In my speech today I will try to look more deeply into that perspective. I should also say from the outset that these reflections will certainly not lead me to call for a stop to globalisation. None of us wants to see a repetition of the 1930s. The challenge however remains to minimising the costs so as to increase acceptance by our societies.
With that in mind, I will spend a few minutes describing current conditions and then outline our ongoing work to ensure the financial system’s buffers continue to sustain resilience over the cycle. Current Conditions Cyclical conditions have been strengthening. Our growth here at home has been bolstered by synchronized growth abroad as well as supportive financial conditions.