restructure the international financial architecture. However, policymakers are rightly criticized for having made only limited … progress in adjusting the regulatory and institutional framework to increased international capital mobility. This failure is … authorities in the ongoing reform debate. In the international context, especially the Bundesbank seems to fight a losing battle …

In a series of summits, leading countries of the world will meet to draw up an international arrangement for financial … considers the problems that have to be solved by an international rule system. -- Financial instability ; lessons from the … subprime crisis ; failures of regulation ; crisis management ; elements of an international rule system ; role of the IMF …