The amount of insurance in European countries today is 300 million SDRs, or about $500 million Canadian dollars. Countries now want to increase that to a billion dollars, but it is not possible. They are looking for other ways to get the financial security. They cannot ratify conventions about this. They want to, but it is not possible. So they are looking for other ways to guarantee the security they need.
On December 4th, 2007. See this statement in context.