After all, each economic contingency is a unique combination of circumstances that, in its own way, is unprecedented, and will probably never repeat itself again in that precise form. So, each new contingency would seem to command a different, tailor-made response on the part of monetary authorities. There is some grain of truth to this.
Why climate change matters to the Philippines – and the BSP I will start by answering some of the challenging questions that people ask me on climate change: "Why are we even concerned about climate change?" We [the Philippines] are a victim. We are very small in terms of [global greenhouse gas] emissions, and we are late in contributing to emissions.