And bold, longer-term reforms are being developed to create a more stable and efficient financial sector. If well executed, these measures will collectively begin to restore confidence and, with it, promote sustainable economic growth. My message today is simple: there is a plan to restore confidence and growth, we are implementing it, and it will work.
The impact of these policies will build over time and will be significant. For maximum effect, it is critical that measures be grounded in robust and principled frameworks: the objectives should be transparent; indicators of success clear; and entry and exit criteria well articulated. Citizens must be able to hold their policy-makers accountable. Policymakers must rise to the occasion.