The Council took note of a presentation by commissioner Michel Barnier of the Commission's work programme for financial services.
It held a brief exchange of views on the approach to be followed.
At an extraordinary meeting on 9 May 2010, the Council underscored the need to make rapid progress on financial market regulation and supervision, in particular with regard to derivative markets and the role of rating agencies. It also emphasised the need to work on a "stability fee" to ensure that in future, in the event of a crisis, the financial sector bears its share of the burden incurred.