By this is meant the tendency for investors around the world to concentrate their efforts in the big markets, such as the United States and Europe, and to ignore us because of our small size and lack of strategic importance. There is no doubt that this tendency can be important at times, but we should not assume that it is permanent.
The financial crisis and monetary policy measures We can distinguish two major episodes in the current crisis, first the sub-prime crisis, magnified by the collapse of Lehman Brothers, and, second, the sovereign debt crisis in whose thrall we still find ourselves. Mispricing of risk The two episodes share some common causes.