G20 summit - Part V
By Denis on Wednesday 18 March 2009, 22:34 - Permalink
The next summit is planned to propose regulatory lessons from the crisis. Ideas took some time to appear in the open, however two recent reports in Europe might constitute a base for future discussion.
The "de Larosière" report to the European Commission, from the
high-level group on financial supervision in the EU chaired by a former Banque
de France governor, was the first building stone (introduced here). Europe clearly makes it a
priority for the coming summit not to waste this crisis in term of overhaul of
the financial regulations (as reported e.g.
here). In such a context, the new
Turner
review - a regulatory response to the global banking crisis by the
Financial Services Authority (FSA, U.K. regulator) definitely constitutes a second and
important stone...
Comments
Another relevant report on the Fundamental Principles of Financial Regulation (from the Geneva Reports on the World Economy (11) by the International Center for Monetary and Banking Studies and the Centre for Economic Policy Research).
Another relevant report on Financial Reform - a Framework for Financial Stability from the group of 30.
To be noted: the Join the debate section of the London summit website (usually called G20, but as the "G20" appellation is not strictly correct, one should use the "London summit").