OVERCOMING THE CRISIS

“The financial markets are where the re-building must start”

Summer 2009
This crisis originated in the behaviour of financial markets and that is where the rebuilding must start. I would favour banks having to keep a higher ratio of assets, an end to off-balance sheet transactions like hedge fund operations, and a return to distinctions between retail and investment banking and insurance.

The whole scam of derivatives and the selling on of debts also needs urgent attention. If you have taken out a loan with a bank, you do not want to have it sold on to "A Spiv & Son, Vulture Fund Specialist", who will steal your asset and close you down.


Further articles in this  OVERCOMING THE CRISIS section
   
  • Edmond Alphandéry 
 "It's up to Europe to set a global example of concertation"
  • Jerzy Buzek
 "Let's return to the grassroots and base growth on savings and productivity"
  • Mark Eyskens
“My 10 point rulebook for the globalised economy”
  • Franz Fischler
“What we need first and foremost is a change in public consciousness”
  • Nicole Gnesotto
 "We need a new global political deal now the West is no longer master of the world"
  • Béla Kádár
 “To save the market economy and democracy, governance has to step in where corporations ruled and markets failed”
  • Noëlle Lenoir  
 "My five courses of action"
  • John Monks
 “The financial markets are where the re-building must start”
  • Poul Nyrup Rasmussen
 "The EU must pull its weight and demonstrate real leadership"

  • Klaus Regling
 “Better regulation and supervision, and the greater legitimacy of international financial institutions”
  • Onno Ruding
“Implement de Larosière and then consider further reform”
  • André Sapir
 "Restoring the health of banking is no longer a financial problem but a political one"
  • Tøger Seidenfaden
 “We urgently need much stronger international institutions"
  • Constantine Simitis
 “Fiscal stimuli, yes. But social goals are also crucial”
  • Loukas Tsoukalis
 "To be a major player on the new global architecture, Europe must end its IMF over-representation"
  • Alvaro de Vasconcelos
 "Now it's the West that needs the Rest"

  • George Vassiliou
 "How to beat this crisis and head-off another"
  • Nicolas Véron
“Institutional innovation, not streamlining, is today’s priority”
  • Stephen Wall
 “We need a eurozone regulatory structure, and if Britain wants a role it must manage its eurozone entry”
 
Download full PDF version of this section
You need to be logged in to rate and comment on articles.
Click the log in or register button in the top right corner of this page.
Average rating:
Add rating
 
You are not logged in.
Please log in or register to submit
comments or rate articles.
 
 
Catalonia_2009

The fourteenth edition of Europe's World is out. We feel it's fair to say that few if any publications in the field of international relations and policy debate have grown as fast or widened their scope so remarkably as Europe's World. Table of contents of Issue 14.

The search is on for 'global governance' solutions to the world's economic and political problems. The trouble is, of course, that there's not much agreement across Europe or around the world on what sort of policy instruments, institutions and rules would open the way to a fairer international system serving the needs of North and South, East and West while avoiding the pitfalls that led to the global crisis.  Read more

 
EC_Sustainable_Energy_Week_March2010

 

IS HOME-GROWN
TERRORISM A FAILURE
OF INTEGRATION
POLICIES OR
THE SYMPTOM OF
A WIDER CRISIS?
 

 
What do YOU think?