Whatever its genesis – developed and developing countries, offshore or onshore financial centres, we all need to change attitudes, perspectives and strategies in order to ensure that institutions all across the globe are strengthened and that we restore consumer confidence and trust, globally, in financial systems.
The interconnectedness of financial systems is such that the failure of an individual systemically important financial institution can reverberate globally. The dramatic changes in the global financial landscape over the past year have been historical in their proportions.