(2017), “Bond scarcity and the ECB’s asset purchase programme”,  speech at the Club de Gestion Financière d’Associés en Finance, Paris, 3 April. 15 / 15  BIS central bankers' speeches
Furthermore, the need to adhere to this path is far more evident at present, since the complexities of external conditions, if anything, are likely to accentuate in coming years. Having said this, it is also clear that the responsibility for overcoming the current difficulties, and more generally for ensuring a healthy evolution of the world economy, does not lie on EMDEs only.