Enhancing European Cooperation in Financial Supervision and Crisis Management. ACES Working Papers, August 2009

To overcome the regulatory pitfalls, regulatory capacity and resources in financial markets governance need to be enhanced, not only at national but also at global levels. In order to shed light on policy issues and agendas in international financial policy cooperation, this paper focuses on the case of European financial integration and regulations. The analysis of policy developments at the European level in coordinating differing national interests, supervisory systems, and practices among EU member states highlights fundamental elements of global financial regulatory cooperation.

The next step after Japan? (Virtual reality, training and crisis management). Transatlantic Security Paper No. 2, June 2012

The recent crisis in Japan, which combined tsunami and technological events, shows that any crisis, especially those in developed and developing countries, is from here out a hybrid crisis, mixing natural factors and human/technological (NATECH). Faced with such dramatic events, which exceed any means available for emergency rescue service, it is necessary a) to remain prudent and b) to prepare. One of the means for preparing is unquestionably training. However, here, undoubtedly there are important constraints: How to train, for example, while reproducing vividly and realistically, an event? How to exceed the admittedly useful, although very limited, level of the table-top exercise? How also to avoid the unnecessary mobilization of dozens, even hundreds, of field and operation staffers to take part in an exercise which could lead to a disappointing outcome? A major crisis, a major exercise, in effect. The solution of virtual reality has emerged, in Europe and in the United States. It is also sometimes called “serious game”.