Tackling climate for real: progress and next steps Speech given by Andrew Bailey Governor of the Bank of England  BIS-BDF-IMF-NGFS Green Swan 2021 Global Conference 3 June 2021  I am grateful to Thomas Viegas, Chris Faint, Zane Jamal, Theresa Löber, Timothy Rawlings, Matthew Trott, Michelle van der Merwe, and Karen Jude for their assistance in helping me prepare these remarks. 1  All speeches are available online at www.bankofengland.co.uk/news/speeches and @BoE_PressOffice  It is a pleasure to be participating today, at such a unique event. Over recent decades, our global economic system has faced multiple shocks or swan events, ranging from the Covid-19 pandemic to the global financial crisis of 2007/08. But if we turn our eye to the future, we can see another swan lurking in the reeds, and it’s green. That green swan is why we are here today, the threat posed to our economies and our financial system by climate change. Central banks, regulators and policymakers came together in the aftermath of the financial crisis to reform the system so that it could better weather future shocks. Like before, we must come together again to address the threat of climate change. But unlike before, we cannot wait until the aftermath to do so.
Luis M Linde: A review of the Spanish economic situation; Spain’s Budget for 2015 Testimony by Mr Luis M Linde, Governor of the Bank of Spain, before the Senate Budgetary Committee in connection with the Draft State Budget for 2015, Madrid, 19 November 2014. *  *  *  Ladies and gentlemen, In my appearance today before this Chamber as part of the discussion of the State Budget for 2015, I will focus, as usual, on analysing the developments in, the outlook for and the challenges facing the Spanish economy. On this occasion, I am speaking just two weeks after the start-up of the Single Supervisory Mechanism, so I will also refer to the progress of the Banking Union. The euro area economy The Spanish economy is currently in a less favourable external environment than had been anticipated a year ago. In recent months, growth forecasts for the global economy for 2014 and 2015 have been revised downwards, and the loss of momentum of the recovery is more marked in the European countries which, as we all know, are our main trading and financial partners. Euro area GDP flatlined in the second quarter of this year and the information received since has led international organisations and private analysts to revise their medium-term growth forecasts downwards. At present, the scenario considered most likely is one of weak GDP growth rates, which will be uneven from one country to another and prone to possible downscaling.