Governance of Global Financial Markets

Emilios Avgouleas holds the chair in International Banking Law and Finance at the University of Edinburgh. He was previously Professor of International Financial Markets and Financial Law at the University of Manchester. He has published extensively in the wider field of international and European finance law and economics.

• 1. Introduction; Part I. Financial Markets and Financial Crises: 2. Financial markets and financial crises; 3. The causes of the global financial crisis; Part II. The Evolution of Global Governance Structures: 4. The evolution of global financial governance and development of international financial regulation; 5. The 'softness' of soft law and global financial governance; Part III. Regulatory Reform and a New Governance Model for Global Financial Markets: 6. Regulatory and supervisory reform: US, EU, Basel Committee; 7. Global reform of the 'too-big-to-fail-institution' and the new resolution regimes in the US and the EU; 8. An evolutionary model for global financial governance.

'Certainly far too much of the thinking underpinning the regulatory reforms since the crisis has been an extension of the thinking that delivered us the crisis - people are still thinking within the same box. Professor Avgouleas has stepped out of this box, and dared to think larger thoughts, and propose more fundamental reforms, that actually seek to address the seminal change from a system of national financial systems to one truly globalized financial system … With a fuse burning in the Eurozone that could ignite a far larger crisis than the GFC, nothing could be more urgent than the G20 resolving to make at least some of the ideas in this book a reality.' Ross Buckley, University of New South Wales