In particular we have to think of ways to close the gap, on the one hand, between legal powers and mandates and, on the other hand, the abilities and responsibilities of the home and host supervisors. (These issues are already particular relevant for the Nordic and Baltic region where cross-border ownership of financial institutions is perhaps ahead of that anywhere else in the world.)
National level There are some issues that relevant for all countries, despite big differences in country-specific circumstances. First, there is a need to reduce fiscal vulnerability through sufficient fiscal consolidation and prudent debt management practices.