Lessons and Perspectives Thank you for inviting me to speak at this annual meeting of ISDA. When visiting Rome, we are all conscious of the rich history and grandeur of the Roman Empire. This setting puts into perspective the short history of the swaps and derivatives market -- despite having come a long way, the market for over-the-counter derivatives is still relatively young.
There are major differences of opinion among economists inside and outside of South Africa on what the reaction of the official macroeconomic policymakers in South Africa should be to soften the blows for the economy.