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The ongoing crisis illustrates all too well the importance of trust and confidence for the proper functioning of our financial systems and, in turn, our economies. Consumers are at the heart of the system. They should feel capable, knowledgeable, safe and secure in their dealings with financial services providers and their intermediaries, said Angel Gurría.
OECD and the South African government have created a centre to encourage co-operation among African debt managers and to support the development of sound practices in public debt and cash management.
This conference focused on how we can help individuals improve their financial knowledge and the way they manage their personal finances.
Watch this recording of the 2011 OECD Forum session on financial regulation and consumer protection with Ted Menzies, Steingrimur J. Sigfússon, Federico Ghizzoni, Marilena Lazzarini, John Hope Bryant and Renato Flores.
OECD Secretary-General talks of the need to promote a significant shift in policy-making to introduce together a new era that favours long term investments for sustainable development, at the Eurofi High Level Seminar in Paris.
The G20 helped steer the world through the worst of the economic storm; now it must show it can set in motion a new governance for the post-crisis world. That's a task our organisation stands ready to help with, says the OECD's G20 Sherpa, Gabriela Ramos.
The crisis has left a legacy of nearly bankrupt governments. There is little doubt that all countries among the advanced economies are now in urgent need of implementing a credible medium-term fiscal consolidation strategy, argues Jean-Claude Trichet, president of the European Central Bank.
The world economy is recovering, but many challenges remain to eliminate global imbalances. Countries must address the crucial question of capital movements while deepening their commitment to structural reforms, according to OECD Secretary-General Angel Gurría.
Reforms of financial regulation have made some progress, but a lot more still needs to be done. Speculation and greed were among the root causes of the meltdown, and as our guest, Ami Domini, CEO of Domini Social Investments, argues, they are not impossible to fight.
For more than two decades, the world's economic growth and development was largely fuelled by globalisation-the opening up of financial and product markets, and the emergence of economies such as China, India and Brazil. This process was hit by an earthquake with the global financial crisis of 2008, an event which some have dubbed the “first crisis of globalisation”.