So in that sense, the set of papers that we have here tonight gets right to the heart of the issue of how well that oil is working and whether there’s any risk of it drying up in the future. There’s clearly been a lot going on in the global financial sector over the past few years.
The IMF has warned that the global economy has entered a “dangerous new phase”. Also, the World Bank, in its Global Economic Prospects Report released this week, warned that the “world economy has entered a very difficult phase characterised by significant downside risks and fragility”.