Show simple item record

dc.contributor.authorCASSIS, Youssef
dc.identifier.citationThe European Financial Review, 2011, Aug/Sep, 44-47en
dc.descriptionThis article is based on Professor Youssef Cassis’ book, Crises and Opportunities. The Shaping of Modern Finance (Oxford, 2011)en
dc.description.abstractAs the world’s political and economic leaders struggle with the aftermath of the debacle of 2008, this article asks the question: have financial crises presented an opportunity to rebuild the financial system? The answer is not straightforward. Nearly three years after the financial debacle of September 2008, the changes brought about to the financial system have, on the whole, been deemed disappointing. Of course, some measures have been taken –Basel III, the Dodd-Frank Act in the United States, the financial supervision package in the European Union, the Vickers Report in Britain. They will raise capital requirements and more generally tighten regulation, but they do not amount to a radical overhaul of the financial system. Where is the ‘New Glass-Steagall Act’ or the ‘New Bretton Woods’ called for in the wake of the panic of 2008? In fairness, it is still too early to assess the full extent of the reforms introduced in the last couple of years. But it is worth pondering on the after-effects of previous shocks in order to put both current achievements and expectations into perspective.en
dc.titleCrises and Opportunities – Have financial crises led to the reshaping of the financial landscape?en

Files associated with this item


There are no files associated with this item.

This item appears in the following Collection(s)

Show simple item record