Davos. Canada Urges Transparency and Adequate Financial Regulation

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“I believe the Canadian system generally does two things that should guide future work in this area. First, we must promote national regulation sufficiently strong to avoid repetition of the kind of crisis we experienced last year. We also believe that such national systems should be subject to international peer review in order to enhance transparency and reduce risks to the global economy. Anything less would expose every economy to needless risk. In fact, if inadequate regulation is not addressed, I believe the consequences could actually be worse than before this crisis”. Canada’s Prime Minister, Stephen Harper.