"My five courses of action"

Three words encapsulate my view of the way forward: transparency, supervision and ethics. They mean that we need to take five clear-cut courses of action:

• We must ensure global oversight of financial markets and their functioning so that their virtual nature can no longer lead to systemic crisis. Whatever institution is responsible for this, it must be a public entity set up by the international community. 
• We have to make sure that banks’ balance sheets reflect the reality of their financial commitments, instead of allowing the externalization of their liabilities. 
• We must set up a global supervisory system based on a network of national bodies. 
• Tax havens have to be eliminated so that states have the resources and financial strengths needed to play their role at national and international levels. 
• We need to seek to increase the profits for all stakeholders in a business, whether they be owners, managers or employees, because ultimately they are all consumers.