For instance, it is beneficial to have sound and sustainable monetary and fiscal policy to provide a stable operating environment for entrepreneurs and financial institutions and markets. Many past crises were precipitated either by an external shock affecting an already vulnerable financial system or by market participants targeting vulnerabilities in certain markets or in certain institutions or governments.
History has taught us that if a condition or policy looks unsustainable, it most likely is and market forces will eventually bring it to an end. To paraphrase Herb Stein, if a policy cannot go on forever, it won't! BIS Review 98/2007  5  Third, I referred earlier to research on the benefits of disclosure and transparency.