But the job needs be finished at the global level. The financial system is global and so should be the rules that govern it. You cannot enjoy fresh air on your patch of land while there is a fire raging on your neighbour’s – sooner or later the wind will blow smoke and sparks over the fence.
Philip R Lane: International policy trilemmas Remarks by Mr Philip R Lane, Governor of the Central Bank of Ireland, to the London Irish Business Society, London, 31 January 2017. * * *  “International Policy Trilemmas” The implications of global and regional integration for policymaking have been much studied in recent decades.