Former Austrian Ambassador Dr. Wendelin Ettmayer speaks to WFLS on managing international crises

Within the European Union, the de Larosière Report on the financial crisis that had hit Europe as of February 2009 laid out a framework for steps taken by the EU. These recommendations have been used by the European Commission and were adopted in September 2009.   Amb. Ettmayer argued that stronger coordinated supervision for all financial actors within the EU but also on an international level is vital, and effective crisis management procedures should be in place in order to build confidence and restore financial stability throughout Europe.