ECB chief calls for increased regulatory harmonisation

Jean-Claude Trichet, president of the European Central Bank, has said central banks must decide on uniform regulatory principles to deal with the globalisation of financial markets.

“It is crucial to deepen and strengthen global governance by exploiting to the full all possibilities offered by all formal and informal institutions that exist and by consolidating global financial stability, not only by unifying the principles and concepts of prudential supervision and regulation, but also by achieving real unification, resulting at the global level from the practical implementation of regulation and supervision,” said Trichet in a speech at the 13th International Economic