Popescu notes that there has been talk of introducing co-payments as a way of making up the shortfall in funds, but believes that this will have limited impact.

The new bodies succeed three committees that previously tried to co-ordinate the supervision of European Banks, insurers, pension funds and securities.

The couple are also co-founders of Crowdrise, a fund-raising charity website which is currently helping generate funds to help the Japanese Earthquake and Tsunami relief fund.