WILL NATIONAL REGIMES DERAIL GLOBAL RECOVERY AND RESOLUTION?

摘要

The need for the Belgian, French and Dutch governments to rescue troubled Benelux bank Dexia from imminent collapse in October 2011 showed that policy-makers and regulators had failed to achieve one the major aims to emerge from the financial crisis: that the bankruptcy of a financial institution can be resolved without the need of government support. While policy-makers and regulators across much of the globe are determined to prevent a recurrence of the 2008 financial crisis - and the scale of intervention that was required to prevent the collapse of the financial system - putting in place mechanisms able to resolve complex cross-border bankruptcies has been easier said than done.