10 March 2006

Speech Sobel: Finding Common Ground - Inside the US-EU Financial Dialogue

I a speech held at the University of New York Deputy Assistant Secretary for International Monetary and Financial Policy at the US Treasury Mark Sobel laid out the mayor issues and current state of play in the EU-US dialogue on financial services. This dialogue is “no longer just an episodic meeting of lowly bureaucrats”, Mr Sobel said, “but it has dramatically increased understanding on both sides of the Atlantic.”

The U.S.-EU Dialogue is an important contribution in the construction of the architecture for the global financial markets of the 21st Century, Mr Sobel concludes.

“For the future, the U.S. and EU will continue to face challenges. The Dialogue will need to:

continue discussing problems which inevitably arise;

focus on a forward-looking and cooperative agenda that identifies issues looming on the horizon and work to address these in a way that enhances global welfare.

Further, it will need to continue to reach out within the confines of the Dialogue's informal structure to legislatures, member states and market participants to keep them informed of our work and seek their input.

Full speech

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