Incluye bibliografía ; European finance is becoming increasingly cross-border, while the European architecture for safeguarding financial stability –including decision-making processes for providing financial-stability public goods– have remained decentralized with some explicit mechanisms...

This paper examines the implications of the global financial crisis of 2007-10 for reform of the global financial architecture, in particular the International Monetary Fund and the Financial Stability Board and their interaction. These two institutions are not fully comparable, but they must...