It established a Working Group on Reinforcing International Cooperation and Promoting Integrity in Financial Markets that called on the International Monetary Fund (IMF) and the Financial Stability Board (FSB) to explore information gaps and propose ways to strengthen data collection.
With the election of its President and the vetting of Commissioners by the European Parliament, the European Commission enjoys a higher degree of democratic legitimacy than various intergovernmental gatherings. However, the Commission is increasingly experiencing tensions between its ever-more political orientation and its role as the guardian of the Treaties. These tensions would need to be solved first.