Those that headed to the storm cellars have returned to see what lies in its wake. And Washington has placed itself centrally in the clean-up efforts, seeking to repair the regulatory system. This is  1  Kevin Warsh (2009), “The Panic of 2008,” speech delivered at the Council of Institutional Investors 2009 Spring Meeting, Washington, April 6.
In addition, the effects of the changes in the exchange rate on trade are likely to be more than compensated for in the coming years by the expected acceleration in economic activity world-wide. On the latter aspects I should however not conceal that we also see some downside risks to the global recovery in economic activity.