The Financial Stability Forum (FSF) – which had been created after the Asian crisis and has proved its efficiency on this occasion – investigated how financial market and institutional financial resilience could be improved and its report of April this year lists 67 recommendations in areas consistent with the ones identified by the ECOFIN Council.
The G7 and the international community fully supported the FSF recommendations at its meeting in Washington last April and the FSF is now well engaged in monitoring closely the actual implementation of the recommendations. At the level of the European public sector, the ECOFIN Council endorsed in October 2007 a roadmap defining a list of actions to be completed in the course of 2008.