Michel Barnier, European Commissioner for Internal Market and Services, has highlighted the key role financial centres will play in the post-crisis recovery. He outlined how the international regulatory reform programme will help to restore confidence in the financial sector. To avoid hampering the financial sector’s support to the real economy, the Commission’s proposals allow time for financial institutions to adapt to new requirements. Other measures by the Commission will also strengthen financial centres’ support to sustainable growth. These include the EU proposals for venture capital and social entrepreneurship funds, and using the UCITS brand to promote access to long-term investments for retail investors (Source:Making Financial Centres Contribute to the Wider Economy)