True, the damage inflicted by the crisis has been colossal, but the world enjoyed the benefits of the Great Moderation – over 15 years of unprecedented growth, price stability and low unemployment. 20. It is important therefore to take a balanced view. Who better then than a person with the scholarship and stature of Lord Turner to approach that balanced view. 21.
What would be your main messages for the Financial Forum? It is a great pleasure to address the Financial Forum that will discuss topical issues for the long-term stability of the financial system and for the economy as a whole. Regrettably I cannot join you in person.