Our number one challenge, as a union, is to make sure that domestic strength prevails over global weakness. Our ability to influence the world economy is limited. But we can affect what happens in the euro area. We can take the measures necessary to strengthen our economies and make them more resilient to global shocks. For that, all policymakers need to play their part.
And five thematic peer reviews have examined implementation across the full FSB membership on topics ranging from compensation practices at banks, to mortgage underwriting standards and deposit insurance systems. So the FSB peer review system is up and running. But already it is time for expansion.