And in some places, that may entail, not least, the creation of a stable legal system, with a clear dividing-line between the private and public sectors. And in very many, if not in all, cases, domestic financial market supervision must be improved. It must at least meet international standards, such as have been laid down by the G-10 in its Core Principles.
Enhanced and efficient surveillance is likewise necessary in this context. Not blind political hyperactivity, but action in steps, albeit target-oriented action, is on the agenda, because there have for some time been a number of sound and promising approaches at the level of international cooperation. Those approaches must be implemented.