It is also clear that the big challenges that we have for the future in term of fiscal policies will be solved only if we embark in structural reforms, because in a large number of domains it would be the only way to reduce public spending.” Is the window of opportunity for introducing reforms of the financial system shrinking?
“With the improvement observed in the financial markets some institutions and market participants might think that there is no need for the reforms designed at global level. It would be plain wrong to think that. The improvements observed are observed in particular because there have been bold decisions taken by central banks and by governments. They could not be repeated several times!