Needless to say, and this is crucial, the expected - in principle - positive effects of these changes on the conduct of prudent fiscal policies will have to be proved in practice and will depend on a rigorous implementation of the revised fiscal framework. What do you think of the new rules about debt?
Financial institutions will need to step up their efforts to effectively manage the risks that may lie  BIS Review 33/2008  3  ahead. From the central banks’ perspective, restoring confidence among economic agents and market participants is crucial in the current environment of great uncertainty and high market volatility.