Readers' Guide Comment on “with the necessary authority to … compel a response to alarm bells“
Within GRI’s recommendations on extending legal frameworks, this recommendation stands out. It is the only recommendation for international enforcement advanced in Everybody’s Business.
Readers' Guide Comment on “building on the institutional framework . . . constructed in the wake of the financial crisis”
The London G20 Summit (2009) recommended closing the Financial Stability Forum (FSF) and creating the Financial Stability Board (FSB). With extraordinary speed, the FSF was ended and the FSB was established in London one week after the London G20 meeting.
A year later, WEF seems to believe that the new FSB will not have the capacity to avoid the next financial crisis. Consequently, it recommends a new global systematic risk watchdog body to replace the one year old Financial Stability Board.
The Readers' Guide welcomes comments with alternative examples or counter examples, supplemental assessments of the extracted GRI text or commentary – critical or otherwise – of the above interpretation of GRI’s perspective.