I fully endorse the view of the learned authors of the report that large incumbent companies in developing countries can stifle entrepreneurial energy and initiative but a dynamic financial sector, in which new entrants and incumbents can get finance under competitive terms, can create competitive pressures in the market. This is exactly what Pakistan is trying to do.
Sound fiscal policies will remain a priority for many years to come. The final stage What does all this imply for the future of Europe? Given the achievements of economic and political integration in Europe over the past 50 years, we should remain confident that we will also find answers to our current problems.