Axel A Weber: What imbalances after the crisis? Speech by Professor Axel A Weber, President of the Deutsche Bundesbank, at the International Symposium of the Banque de France: Regulation in the Face of Global Imbalances, Paris, 4 March 2011. * 1.
*  *  Introduction  Ladies and gentlemen, Over the past several decades, the economies of the world have become increasingly integrated. With the removal of barriers to the worldwide flow of ideas, services, goods and capital, a global economy emerged. This has brought about a large increase in welfare and still harbours huge potential for further economic growth and prosperity.