Purpose – The purpose of this paper is to examine the complexities of reorganizing and/or liquidating troubled banks under the European Union's (EU) current institutional framework as it is defined by its directives and by national supervisory, remedial, and insolvency practices....

The early twenty-first century has seen a conspicuous absence of formal international law concerning money and finance. This book argues that this lack of formal international regulation was a significant contributing factor to the global financial crisis that began in 2007. It focuses on this...

This article analyses the nature and causes of the financial crisis of 2007--09 as well as the regulatory responses. There are two types of crises: banking crises, which affect the money stock and thus threaten the economy, and financial crises, which may destroy wealth but do not endanger the...

There are several generic problems connected with financial regulation. Among them, two perennial problems are associated with the existence of important, but porous, borders, or boundaries. The first such boundary is that between regulated and non-regulated (or less regulated) entities. The...

This article uses insights from organizational economics and financial regulation to study the optimal architecture of supervision. It suggests that the new architecture should revolve around the following principles: (i) banking, securities and insurance supervision should be further integrated;...

The contributors – top international scholars from finance, law and business – explore the role of governance, both internal and external, in explaining risk-taking and other aspects of the behavior of financial institutions. Additionally, they discuss market and policy features...

The euro crisis remains unresolved even as financial markets may seem calm for now. The current euro regime is inherently flawed. Recent reforms have failed to turn the dysfunctional euro regime into a viable one. The investigation is informed by the “cartalist” critique of traditional...