We have not reached that stage yet, but the longer monetary policy remains at this setting, the greater is the likelihood of these results. I have no doubt that this is understood by central banks around the world and in time the degree of monetary expansion will be reduced.
My remarks today begin with some preliminary considerations on the relationships between ethics, solidarity and finance. I shall follow this with a description of the non-profit sector and some observations on banking foundations. Finally I shall examine the funding of the non-profit sector and its relations with the banking system. 1.