The MAP working group was formed to provide the G-20 with a framework for strong, sustainable and balanced growth. Global co-ordination and global responses are required given the nature of the challenges we are facing, but that does not necessarily always imply uniform measures and synchronised timing. Country-specific circumstances must continue to be taken into account. 7.
With these two observations, the Council also maps out the areas that it would address in its policy discussions and policy decisions at the following meetings: credit growth and credit standards, the search for yield resulting in excessive risk-taking by both borrowers and lenders and finally the housing market.