Financial Markets

I have said for some time that we need to learn the lessons of what happened. Whether or not one can accomplish that in a single inquiry, I do not know, given that—of necessity—we would have to look at what was happening in just about every country in the world. There are perfectly obvious lessons that we can act on now. One of them relates to the beefing up of the supervisory regime, and the other, which is very clear, is that Governments can achieve an awful lot more when they act together quickly and decisively. That is what I hope we are in the process of achieving at the moment.