On April 11, 2011, Jean-François Boittin, Minister Counselor for Economic and Financial Affairs at the Embassy of France addressed the main challenges for the French Presidency of the G8 and G20. In a wide-ranging talk, Mr. Boittin singled out efforts to further proposed reforms of the international monetary system and financial governance, enhance efforts to combat commodity price volatility, and broaden the base for global development funds to include emerging economies and a mix of both public and private capital.

The eurozone’s sovereign debt-saga seems to be a never-ending story. But like all financial crises, it will end at some point.  Will the endgame involve a default of one or more eurozone countries? Would that lead to a partial or full break-up of the eurozone? Overall, what could be the consequences for the eurozone economy?

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Sweeping changes in the EU's financial regulatory architecture went into effect on January 1. Many details, including key personnel appointments, remain to be implemented in the coming months, but the new institutional framework is set. An authoritative and clearly presented outline of this complex new system is available on this page from the website of Clifford Chance, a global law firm based in London (that works extensively on EU matters).


--European Affairs

Perspectives: An Occasional Forum of the European Institute Reflecting Participant Views on Topical issues

By Anthony Luzzatto Gardner

After nearly two years of heated debate, the member states of the European Union have approved the Alternative Investment Fund Managers Directive which imposes strict regulatory requirements on a wide range of “alternative” investment fund managers, including those managing hedge funds, private equity and venture capital funds, listed investment companies, real estate and infrastructure funds.

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As France takes over the helm of the G-20 later this week, President Nicolas Sarkozy starts a year-long term as president of an organization that, in his words, “foreshadows the planetary governance of the 21st century.” That phrase, uttered when world leaders closed ranks to avert economic catastrophe in 2008 and 2009, sounds over-ambitious today,  as new splits have emerged between nations about the way ahead – notably on trade imbalances, currency manipulation and debates over the U.S. insistence on pursuing economic stimulus in the face of strong objections in Europe and Asia.

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