International authorities have jointly taken extraordinary economic policy measures following the 2008 crisis. These measures are unprecedented compared to those taken in other crises. Policies such as negative interest rates or the purchase of debt by central banks, which have been accepted as normal, break the mold of any central bank intervention in the markets.
During the crisis, there was also significant international coordination in addressing the weaknesses of the financial system. Efforts have focused on increasing security and strength, combining complex regulation with strict supervision. As a result, the banking system is more resilient and more adaptable to potential shocks. This reduces the risk of a new crisis, while bearing in mind that resolution regulation limits the damage from troubled institutions.
Nearly a decade after its onset, recovery is a reality, although concerns remain regarding low potential growth and persistent inflation. Authorities are discussing monetary normalization and studying strategies to facilitate the adjustment of accumulated debt.
