Every country has its own unique complexity, both in social and political terms, of which outside observers have only a limited knowledge. Therefore, instead of providing a direct answer to the question, I would like to list three factors that define the length of time necessary for adjustment. The first factor is the size of excess debt accumulated before a crisis.
Furthermore, increasing pressure on consumers continues to be clearly evident in the marked increase in impaired advances and rising credit impairments, which impact negatively on the earnings of banks. However, the South African banking system remains stable and banks are adequately capitalised.