Now the failure to properly address these issues in the past has led to the current scramble for financial resources to shore up systemic stability. And the amount of reassurance demanded by markets increasingly exceeds the official resources available by an ever higher margin.
National foreign exchange reserves stand again at an all-time high; regional financing arrangements – especially in Europe and Asia – are better endowed and more sophisticated than ever before; and the IMF had its resources trebled in 2009, and will soon reflect yet again upon the adequacy of its resources. It is clear from this that prevention is always better than cure.