Nijathaworn, Bandid (2008), “Is climate change a big deal for the financial system?”, speech by Deputy Governor, Bank of Thailand, at Bank Indonesia’s Annual international Seminar on “Macro economic Impact of Climate Change: Opportunities and Challenges” in Bali, August 2.
Its Achilles heel lies in its unsatisfactory lack of binding character in practice. BIS Review 70/2004  1  3. Changes to the Stability and Growth Pact  Let me comment briefly on the changes now envisaged for the Stability and Growth Pact. This week the ECOFIN Council discussed the “strengthening, clarification and better implementation” of the Pact.