Let me conclude. In the current, very demanding situation, the swiftness and the magnitude of the decisions taken by central banks as regards the supply of liquidity and the decisive actions taken by governments and parliaments as regards recapitalisation in the financial sector and the provision of guarantees have proved effective in avoiding a meltdown of global finance.
But it would be a mistake to underestimate the structural fragility of the present state of global finance and, consequently, of the global economy. This is the heart of the matter: we need a paradigm change in the global economy. The previous paradigm was based on the concept of relatively short-term financial market equilibrium. What we need is a new paradigm.