Matolcsy: Covid is the first wake-up call for the West

English2020. dec. 16.GOVERNOR MATOLCSY100WORDS

Just on the contrary, there is no good reason to think that a healthy, i.e. sustainable recovery is within reach in the western camp of the global economy. /Martin Wolf, FT, 2 December 2020/

The handling of the Covid-19 pandemic might only be the harbinger of the handling of future challenges of the 2020s.

The Asian pattern proved to be a success, the western pattern is a blatant failure. What really matters in handling the coming challenges are the mindsets, habits and connections of the players from households to governments and from business sectors to civil movements.

When it comes to wake-up calls double checking is the Asian way – let’s expect some further calls.

Governor Matolcsy, MNB, the Central Bank of Hungary

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