These new arrangements will obviously take some time to evolve, and, since they are essentially preemptive in nature, the non-recurrence of a financial crisis for reasons similar to the previous one will be one test of their effectiveness.
My colleagues and I always look forward with bated breath to this evening at the end of every year. This dinner represents for us the highlight of every year as we gather with you to break bread and discuss issues of common interest and relevance to our various countries. 2004 has indeed been a momentous year for the global economy.