Abstract
The current economic crisis has revealed the shortcomings of the current global financial system, and it is clear that there must be a fundamental shift in the approaches to global financial governance. The seeds for a more comprehensive global system have been sown, as evidenced by the increasing amount of international dialogue, not only amongst the global economic giants but also amongst emerging economies. However, there is a need to develop mechanisms for high-quality regulation rather than falling into the trap of reacting to the current crisis.
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Based on a speech entitled ‘Global financial stability’ given on the occasion of the debate with national parliaments on ‘The post-crisis strategy for growth and jobs’ and ‘Modernisation of the global financial architecture’ in Brussels, 16–17 March 2010.
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Draghi, M. The future of global financial stability. European View 9, 23–27 (2010). https://doi.org/10.1007/s12290-010-0122-6
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DOI: https://doi.org/10.1007/s12290-010-0122-6