Concomitant with the run-up in house prices since 2001, the ratio of house prices to disposable income has also increased sharply over this period.
•  The EU Finance Ministers have asked the Economic and Financial Committee to examine a number of issues raised by the recent turbulence, analysing them in a way that is complementary to the mandate of the FSF by taking a European perspective and covering slightly different areas, including the implications of the  BIS Review 135/2007  5  new Capital Requirements Directive, which implements the Basel 2 framework in the European Union.