That's why we are focused on a new resolution regime as part of a sweeping overhaul of the financial system.
Without the resolution regime, regulators might face the same unappetising choices they had in 2008: allow the firm to go bankrupt (like Lehman Brothers) or bail it out (like AIG).
They also object to the resolution regime replacing bankruptcy.
The threat of being wiped out in bankruptcy could cause creditors to flee both the troubled firm and any firms like it, precisely the sort of panic the resolution regime is meant to avoid.
Capital Controls do not form part of the envisaged resolution regime which is the only distinguishing factor of the Cyprus bailout which Dijsselbloem failed to express but he certainly does not envisage capital controls as being the model for Europe.
European policy makers are considering a host of proposals to eliminate implicit government guarantees, including a new resolution regime, turning some liabilities into bail-in debt that will automatically take losses, depositor-preference regimes that would subordinate unsecured bondholders, and U.K.-style plans to ring-fence certain activities.
While markets may be having adverse short term reactions to Dijsselbloem statements in light of how badly the Cypriot deals were managed, the principle of a European Wide resolution regime have been in situ since a European Commission working paper was published in January 2011.
The United Nations has passed a clear resolution requiring that the regime in Tehran meet its international obligations.
The lack of an appropriate and modern regulatory regime and resolution authority helped cause this crisis, and it will continue to constrain our capacity to address future crises until we put in place fundamental reforms.
Security Council resolution aimed at compelling the regime to meet its commitments under the plan, and requiring all parties to comply with it.
Actually, the Obama Administration and the Chavez regime sponsored a UN resolution that condemned the government of Honduras for legally removing Chavez's puppet "Mel" Zelaya.
CENTERFORSECURITYPOLICY: Who's behind the Obama Honduras policy?
The U.S. and Europe are pushing for an arms embargo and financial sanctions on the Assad regime as part of the resolution.
While the Sudanese government and the rebels continue to make excuse after excuse, the world powers on the Security Council have at least managed to pass a resolution that puts more pressure on the regime in Khartoum to stop the fighting.
The Clinton administration helplessly acquiesced, finally approving a new Security Council resolution in 1999 that gave us the current toothless inspections regime.
China joined in approving the resolution, the first in four years to expand the sanctions regime on North Korea.
With a little help, you can pace yourself and maintain an exercise regime so that your first New Year's resolution won't be to lose 5 pounds but to run five marathons.
Russia -- which has blocked action against the Syrian regime -- called for the quick approval of the Security Council resolution to deploy more monitors.
CNN: U.N. Security Council to vote on Syria observer mission
Last week, at the behest of Russia, Iraq's closest ally among the permanent members, the UN Security Council voted to extend the current sanctions regime for a month, to allow more time to debate America's draft resolution.
But the other aspect that's much forgotten of Resolution 1973, which we supported, is that it sanctions non-military means of putting pressure on the regime.
"It wasn't so much about planning to initiate operations on a 'date certain, ' as it was about determining if the regime would heed the warnings of the international community and comply" with a U.N. resolution, the official said.
应用推荐