the regulations. it will be very important for the banking in the region to work as hard as possible on preserving the confidence in the institutions, in the banks. to prevent as much as possible the speculations which may cause panic with the depositors. the region should respond to the world financial crisis and recession movements with increased mutual cooperation. both economic and political. the reduced export demand in the developed economies could be partially offset with the increased trade and mutual increase in the private crediting in trading or financial terms. tomorrow's conference has a chance to give its contribution to that. is the world financial crisis going to create larger innovations in the international financial system and order and are there any developments, redistributions in the international financial architecture and power in sight? i personally think that it is quite possible. almost inevitable. from the one hand, it is becoming very clear that globalized markets and the total globalized economy require global and efficient international institutions where efficient and timely coordinated responses to the economic and financial risks and crises will be agreed. just for example, switzerland was obliged to support ubs and credit suisse. however, the problem is that they exceed its capacity, as in that case, and in many new such cases, with the financial giants in many other countries. bush and sarcozy have met, and the issue was nothing less than an entirely new world financial system, immediately encompassing china, india and brazil. these countries are included in order to help the west to overcome the recapitalization problems. the british prime minister gordon brown strongly supports new " bretton woods " agreement for the international monetary system. the freedom that the new york institutions for residential sector financing enjoy currently, will vanish. it seems that the arabian countries and russia are not ready to discuss in this direction, or it just seems like that. but putin, during his visit to china, suggested the chinese leaders to initiate trade in their national currencies, showing explicit non - confidence in the us dollar. the persian gulf countries are planning a monetary union. will they take this step? according to all this, dear ladies and gentlemen, we are living in an exciting historical period. yes, it is crisis. but, probably, it is not by chance that the wise chinese have two signs for the crisis. the one denotes the danger, and the other one, possibilities. this crisis is a real possibility to learn a lot, in this case from the mistakes of the developed ones, in order to build a

anita angelovska bezhoska : efforts for further development of the financial education and improving the financial literacy among the population address by ms anita angelovska bezhoska, governor of the national bank of the republic of north macedonia, at the meeting with the teaching staff on the occasion of the european money quiz, skopje, 22 february 2019. * * * dear deputy minister of education and science, dear president of the macedonian banking association, dear teachers, dear guests, first of all, please allow me to greet and welcome all of you here in the national bank. this is the first such meeting, which i hope will become a regular practice in the future, within our efforts for further development of the financial education and improving the financial literacy among the population in our country. the global financial crisis that arouse from the deficient regulation of the financial system, as well as from the poor financial knowledge of the population, clearly emphasized the necessity for additional efforts in the financial education segment. therefore, in the global context of the postcrisis period, the policy - makers, including central banks, undertake numerous activities, making financial education an integral part of central banking operations. being aware of the importance of financial literacy, both for each individual and for the society as a whole, the national bank has been undertaking activities in the field of financial education for the younger population for many years, and many students from primary and secondary schools, of course, together with their teachers, have already visited our bank. this enables to gain broader knowledge about our operations ( what are the main goals and tasks of the central bank, what are the instrument we use for their realization and the challenges for achieving and preserving the macroeconomic stability ). through our publications and interactive games in the field of finance, we try to attract the interest of the youngest generations to get acquainted with terms such as saving, investment, inflation, etc., while through the rich collection of coins in our numismatic museum, to get acquainted with the history of our money. in the future we will continue to enrich the spectrum of activities in the field of financial education, by including the elderly population, as well. within these frameworks, we are particularly pleased with the exceptions engagement of the banks in the field of financial education of the youth in the country, as a relatively new area of activity and one of the recent challenges in the financial area. more active involvement of banks in this area verifies their increased social responsibility,