But let me turn to the topic of the speech. I will discuss BRICS in the South African and global context, more recent developments in terms of the slowdown in BRICS economic growth and focus on the successes of the BRICS countries. I will conclude with a brief update on economic developments in South Africa, which could be of interest to some of you.
The proposal could also curtail interconnectedness within the financial system and hence reduce the likelihood of contagion. If consistently implemented, it would improve market discipline and redirect the European banking sector towards better serving the real economy and sustainable growth. 2  BIS central bankers’ speeches