The Financial Stability Forum, which was inaugurated last April at the request of the G7, has published recommendations on such issues as highly leveraged financial institutions (for example, hedge funds) and international capital flows. This is one example of the fruit of work undertaken by international financial fora. The reform of the IMF has been a most important issue.
At a time when skills shortages are acute, such barriers cannot be allowed to remain. We need to consider creating a common framework for skills recognition that gives employers and employees the confidence they need to move more freely across borders. Third, we cannot rely on emergency measures alone.