There is an increasingly common belief that the benefits of globalisation have not been distributed widely enough and that it has reduced protection for workers. Let me take a few moments, then, to remind you of the successes of the post-war institutions in Europe.
These buffers, plus the relief and mitigating measures from the BSP and the national government, allow us to look forward to the time when the Philippines will be firing on all cylinders again. Thank you very much, and I look forward to answering your questions. 2/2  BIS central bankers' speeches