Europe and the World’s Economic Governance: The Monetary and Financial Perspective

18 Pages Posted: 13 Feb 2011

See all articles by Franco Bruni

Franco Bruni

Bocconi University - Department of Economics (ECO)

Date Written: February 1, 2011

Abstract

The international financial crisis that started in 2007 was much more than an accident caused by undisciplined financial innovations. It was a major failure of global economic governance. “The globalization of finance and monetary systems has excessively prolonged the duration of unsustainable trends which a different form of governance could have resolved far earlier and far more painlessly. The term ‘subprime crisis’ is as much as an understatement as it would be to call World War I ‘the Archduke’s War’ “. The need to “govern” the world economy with strong forms of international cooperation has become much more evident.

Suggested Citation

Bruni, Franco, Europe and the World’s Economic Governance: The Monetary and Financial Perspective (February 1, 2011). Paolo Baffi Centre Research Paper No. 2011-84, Available at SSRN: https://ssrn.com/abstract=1759352 or http://dx.doi.org/10.2139/ssrn.1759352

Franco Bruni (Contact Author)

Bocconi University - Department of Economics (ECO) ( email )

Via G. Roentgen, 1 - 5E2FM04
20136 Milan
Italy

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