As outlined by the Governor of the Central Bank in a recent speech, given the particularly favourable economic growth in recent years, the projection of a general government deficit in 2019 does not appear to be a sufficiently ambitious fiscal policy.xxvi On the macroprudential side, building resilience most effectively requires balancing timing, policy-mix and policy calibration, depending on the nature of the systemic risk being addressed.
Optimal restructuring When restructuring works well, the assets of the failing firm, along with the human capital embodied in its employees, will find a good alternative use. Receivers and liquidators will certainly have worked to get a good price for the physical assets.