All in all, the global financial crisis and the ongoing Eurozone crisis have raised important questions about the unconventional measures that central banks can resort to – their range, intent and the way the intent should be communicated to the markets. I am sure this conference will visit this debate in much greater detail over the next two days.
First, what are the critical components of public confidence in the banking system, and how are the industry, its regulators, and the central bank working to earn public trust in the Y2K context? Second, what are we confident about and what are we concerned about? When the media assesses the financial risk element of the Y2K story, these may be appropriate places to start.