All of the considerable steps taken by central banks and governments – and thus by taxpayers – have had one single objective: to allow banks to continue to perform their function, which is to finance the real economy. The banks have to live up to their responsibilities. Paradoxically, haven’t some banks, such as BNP Paribas, become too big as a result of this crisis?
This can be achieved by pursuing the following three lines of development: 1) further development of the primary and improvement of the secondary market of government securities, 2) broadening the circle of issuers and the investor base of debt securities, and 3) stronger development of dinar debt instruments.