Mr. Speaker, there is no doubt that first and foremost on the agenda is the reform of the Breton Woods Institutions. In that area of reform will be the whole question of surveillance and transparency involving sovereign nations and also the whole question of capital flows. I suspect what the member is referring to is the problem of derivatives and the consequences thereof.
I have met with the heads of most of the major Canadian financial institutions. In the course of those discussions they assured me we do have the controls to avoid the kind of problems that exist abroad.
We also have a financial culture which would not lend itself, although you can never tell what can happen, to the kinds of problems to which the member referred.