Bruegel today published a policy brief by Stéphane Rottier (Adviser at the National Bank of Belgium) and myself, in which we look at how the crisis has changed the conditions of the global financial regulatory debate.
We identify key new trends and make corresponding recommendations to global leaders, with an emphasis on the subsidiarity principle and on keeping capital markets globally integrated.
To support the analysis we simultaneously produced a policy contribution which was also published today by Bruegel.
Update: the paper was later published, with a few improvements, by the Peterson Institute.