And I think we will all agree that if there was one single important problem for management of the crisis in Serbia, it would be the high level of financial euroization and, related to it, excessive reliance on foreign resources.
For us at the central bank – and also I believe for yourselves – it was a wary experience to watch the exchange rate swings during the crisis. On one side, depreciation was welcome since it was sheltering the economy from the world crisis.