Authorities world-wide have made great efforts to contain the further deepening of the crisis and this process has confirmed the crucial importance of deposit insurance and other safety nets. However, at the same time, it has also become clear that there remain a number of issues to be addressed, in order to prevent any future crisis of such magnitude.
The International Monetary Fund is playing a leading role here by providing significant conceptual support for this strategy of the G20 and the entire international community. We have a lot of progress to make in this area as well.