Pointing out the need to strike a balance, Union Finance Minister, Pranab Mukherjee said, "First of all, I would like to... in the name of the financial regulation and to regulate the markets and as I started off, I mentioned protectionism need not come. Yes, there is a need of regulating the financial market."
"At the other side of the picture, these instruments need not be used to devise protectionism in some forms. Therefore, there too, we shall have to keep in view the federal reserves — the larger social interests — interests of the society as a whole, not fragmented and fractured internally," he added.
Mukherjee went on speak on the lack of consensus among the countries on the lessons learnt during the global economic crisis.