In the past eight years we have stabilised our economy, delivered low inflation, ensured that our public finances are sound, widened our investor base, ensured that our growth is investment-driven, and raised our FX reserves to the level twice higher than the optimum level stipulated by international criteria.
The structure and content of regulation was both intellectually interesting and professionally meaningful; I considered bank supervision, by contrast, as both too workaday and too straightforward to merit the commitment of much legal horsepower or personal attention. I could perhaps have been excused by the callowness of youth, yet it was a common view at the time.