Given the many uncertainties in the global environment that are beyond our control, there is little room to get wrong that which is within our control, such as focused, effective and efficient implementation of reforms and policies that will improve our competitiveness and enhance our attractiveness as an investment destination, labour representatives and employers taking full ownership and  BIS central bankers’ speeches  5  responsibility for restoring orderly industrial relations, and maintaining credible fiscal and monetary policies.
In short, we have a plan to restore confidence and growth, we are implementing this plan, and it will work. With that, Paul and I would be pleased to take your questions. 2  BIS Review 50/2009