The six of them demonstrated their resolve to overcome the crisis through such international coordination, and this effectively tamed the raging turbulence of market sentiment and helped restore stability. This experience teaches us the valuable lesson that international coordination can lessen market uncertainty in times of global crisis. International coordination, therefore, is undoubtedly the key to resolving the global imbalances.
Arguably it was the framework of international policy coordination through the G20 Summit that made it possible to overcome the global financial crisis earlier than anticipated and allowed the swift introduction of Basel III. On the other hand, there are a number of obstacles that stand in the way of the seamless conduct of surveillance and policy coordination.