« One could argue that yesterday’s logic no longer applies to today’s circumstances. The world is constantly changing, making it necessary for us to adapt and evolve our way of thinking. In the past, certain ideas and principles may have been widely accepted as truths. However, with new advancements in technology, shifts in cultural norms, and emerging global challenges, we cannot rely solely on the logic of the past to guide us through the present and future. Take, for example, the concept of work. For many years, the traditional approach was to adhere to a set schedule, work from a designated office space, and follow a strict hierarchy. But in today’s fast-paced, interconnected world, these rules no longer hold true. Remote work, flexible hours, and collaborative team structures have become more prevalent. The same can be said for education. In the past, the emphasis was often placed on memorization and regurgitation of facts. However, with the abundance of information at our fingertips, the focus should now be on critical thinking, problem-solving, and the ability to adapt to new situations. Furthermore, political and social systems that were considered timeless and infallible are now being questioned and challenged. We can no longer rely on outdated ideologies to solve the complex issues we face today. It is essential to question, reevaluate, and adapt our thinking to meet the demands of a rapidly changing world. It is crucial to recognize that embracing change does not mean dismissing the wisdom of the past entirely. History is filled with valuable lessons and experiences that can guide us in making informed decisions. However, it is essential to critically assess whether these lessons are still relevant and applicable to the current context. Yesterday’s logic might have worked in its time, but we must be willing to embrace a new mindset and way of thinking if we want to navigate the complexities of the present and build a better future. Let us be open to innovative ideas, challenge traditional assumptions, and be proactive in shaping our world for the better. In conclusion, yesterday’s logic must be reassessed and, if necessary, left behind. We must be open-minded and adaptable, willing to question the status quo, and embrace new ways of thinking. By doing so, we can face the challenges of the present and shape a brighter future for ourselves and generations to come. »

2023-07-03 21:31:11

Thank you all for being here today. It’s nice to see you all – and I have to say it’s a relief that the second quarter was calm enough for me to be here! Firstly let me apologize for postponing the March event I was supposed to speak to, and thank UK Finance for hosting this event instead. I had to take care of a few cases directly related to what I was going to tell you… let’s just say that I now have two less banks to supervise. In preparing my remarks for today, I naturally began with the speech I intended to deliver in March. It already seems so far away, but if you think back to the start of this year, you’ll remember that businesses and the market in general were pretty bullish. The banking sector was moving into a higher interest rate environment. Forecast energy supply shortages during the winter did not materialize. And in general, financial market commentators were talking regarding the prospect of a very soft landing. Things were indeed rather quiet. So calm that I feared the banks were beginning to think that the macroeconomic shift I reported on last year had gone off without a hitch – counting their chickens before they hatched. And so the speech I intended to give was regarding avoiding the temptation to think that three months of relative tranquility meant that we had moved on. Well. Now that we’ve seen the failure of banks like Credit Suisse and Silicon Valley Bank, among others, in case people were complacent before, they’re probably less so now. In my opinion, these fail Read the original article in English
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