At the European level, there are encouraging signs that we are moving in the right direction. There is increasingly greater awareness of our interconnectedness and the response, though hesitant at first, has been more Europe, not less.
I have no doubts that the new financial supervisory architecture and the authorities that will come into force next year will make great strides to provide the impulse and vigour to move forward and achieve the necessary goals of this process. 6  BIS Review 127/2010