(3)  Other discussions  In addition to these schemes, there have been many other proposals put forward to enable capital to be strengthened when financial institutions are in crisis, and they have served as the starting points for active discussions on how to deal with macro systemic risk. I would like to give you a brief overview of some of them.
Ten years ago, when we were just switching to the euro, or even 15 years ago, when we started preparing for euro accession, we believed this would be the pinnacle of our integration process. We were coming from a small emerging market economy with volatile capital flows and unexpected foreign exchange pressures.