Upgrading the global financial system

This Clingendael Policy Brief takes stock of the multilateral attempts to tackle the financial crisis, and examines the main proposals, accomplishments and problems in putting forward effective solutions.

Despite the gravity and depth of the crisis, the required reform of established institutions and the financial markets is insufficient. Instead, inertia and classical compliance problems hamper enhancing financial regulation, reinforcing international cooperation and reforming International Financial Institutions.

This Policy Brief highlights the potential to salvage what is left of the political will to modernize the existing global financial system, and concludes with an overview of the most promising policy suggestions to realize this goal.