I am confident that these measures will succeed both in confirming the solidity of the banks, and in further restoring confidence in the finances of the State, free as it will then be of any shadow of prospective commitments to the banks.
The biggest change in employment performance of which I am aware is the contrast between the United States and continental Europe. In the United States, the unemployment rate is back to its 1960s level, whereas in Europe it is about five times as high as it was in the 1960s.