The IMF experts suggested that such large spreads were usually due to the weaknesses in market infrastructure and the fact that share prices have been driven up by speculative demand.
Eventually, the success of the Committee of Banking Supervisors (CEBS), CESR and the Committee of European Insurance and Occupational Pension Supervisors (CEIOPS) will be measured mainly on the basis of their ability to deliver effectively on the issue of supervisory convergence.