At the regional level, the European Union has established a whole universe of arrangements for co-operation that is constantly being adjusted to its changing needs and European institutions are becoming increasingly involved at the international scene, for instance with the EU-US regulatory dialogue.
Overall, improving the governance of the international institutions and optimising the work of the informal groupings will always remain a moving target given that these entities permanently will have to adapt to a changing environment. However, with the changes introduced in the recent years, the foundations of the international financial system have been strengthened considerably.