And that bringing in other sovereign wealth funds, Chinese, all this was overpriced. No, I think it is premature and probably wrong to proclaim the EFSF dead. Furthermore I think that if one can show its usefulness in its present size, the argument for its enlargement would be much stronger.
Nevertheless, given that all sectors of the economy wanted to make up for the slack from the SARS epidemic through expanded economic activities, those control measures were only moderate in nature. Against such a background, money supply in 2003 was unduly high, with the effects lingering into 2004. Money supply was tightened somewhat in 2004.