Taaffe argued that, "To other members of the Editorial Board it was clear that the major capitalist states, especially Germany and Japan, were stepping in to finance a stabilisation of the world financial system. This, we argued, would allow the boom to continue for a time, postponing a recession and other problems into the future. This was what happened." Despite the disagreements, Grant proceeded to publish his views in the Militant. Looking back in 1992 Taaffe argues that Grant should have been challenged in writing. Such a challenge would have meant the formation of factions in 1987.