Erik Berglöf: The Challenge of Large, Complex Financial Institutions (1/7)

The video discusses the importance of addressing systemic risk in large financial institutions, focusing on the European experience during the financial crisis. It highlights the complexity of cross-border banking and the challenges faced in harmonizing regulations. The session emphasizes the need for flexible global financial architecture and the role of initiatives like the Vienna Initiative in managing collective action problems and regulatory gaps.

How did the crisis reveal weaknesses in national regulation according to the speaker?

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What are the potential consequences of financial fragmentation as mentioned in the text?

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What measures can be taken to improve the coordination between home and host countries in financial regulation?

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Explain the concept of the Vienna initiative and its importance in the context of the crisis.

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