I would like to begin by emphasising the great achievements that we have reached so far. The international financial system is considerably more resistant today than it was just a few years ago. Many important regulatory measures were tackled under the G20 financial sector reform agenda.
Many initiatives have been converted into legislation or have already entered into force; others will follow in the months ahead. Now I come to the “but” I just mentioned. In order to make the financial system truly safer, I believe we must pay more attention to the following two aspects in the future than we did up to now.