Even so, by charting a route to the New World, he showed that confident entrepreneurs with the backing of venture capitalists willing to take great risks can achieve world-changing disruptions. Five centuries and nearly twenty five years later, it is time for the Caribbean to continue the venture capital voyage started by the master entrepreneur, Columbus. I thank you.
In 1987, a key role played by the Federal Reserve was to demonstrate a determination to meet liquidity demands, and thereby to reassure market participants that problems would not spread beyond the financial system. Problems were contained in this instance, but policy makers cannot be complacent.