Examining the economy from this angle, they would observe that the recession of 2007–09 did not seem to be any more serious than previous recessions in Canada and that, in fact, it was much shorter (Chart 1).
EIOPA and its staff will step up its review of national approaches, and will likely develop a cohesive supervisory manual for insurance in Europe. Enforcement For supervision to be successful it must be underpinned by an appropriate recourse to enforcement. Enforcement is a necessary component of any effective regulatory framework.