In a democratic system it is very difficult to convince voters, especially if they do not perceive any imminent danger, that in some cases a discretionary interpretation of the rule is needed to avoid the worst. This was shown clearly in Europe when it came to deciding on the support package for Greece.
I would like to place on record, on behalf of RBI, and on my own behalf, the impressive achievements of IBA during the past one year and also the spirit of active cooperation extended by IBA in the whole process of reform of the financial sector.