As Mario Draghi said at his last press conference: “Never give up!” I wish Christine Lagarde and her team the best of luck and I fully trust that they will find the wisdom and courage to act in the face of ever changing conditions, as the ECB has always done in its history. Thank you.
There is also a need to improve the effectiveness of regulation and supervision of banks and other financial institutions, especially in emerging-market economies. Banks are important intermediaries for moving funds around at home and abroad. But they will perform this role most effectively and soundly if they are properly supervised and if they have reason to control risk.