Financial institutions, too, will inevitably have to reduce assets and risks, which had grown excessively relative to their capital bases. While balance-sheet adjustments are indispensable for the economy to return to a sustainable growth path, they will continue to exert chronic downward pressure on the economy during the adjustment process, as Japan's  BIS Review 144/2009  1  experience shows.
1  And once we have reached that goal of all finance being sustainable, we will have ensured a better horizon for our children and their children. A horizon - a future! - that to our children is not tragic, but positive and bright. We will have overcome the tragedy of the horizon.