«At the same time, more safety is not a substitute but a complement to well capitalised banks and sound public finances» he concludes. *** Let me begin by saying thank you to the World Bank and the Agence France Trésor for inviting me to speak today.
The speed of change during the financial crisis, and of the regulatory responses to it, has particular resonance for borrowers who think in long time scales, such as governments. Six years have now passed since the famous Pittsburgh G20 communiqué, where many initiatives for the ongoing regulatory agenda to prevent similar crisis in the future were launched.