G20 Summit in London: a breakthrough in financial market regulation?

Will the measures decided on at the G20 Summit be adequate to regulate financial markets and lower the probability of future crises? For Rolf J. Langhammer, Kiel Institute for the World Economy, the decisions of the G20 Summit served to help overcome the crisis and were an attempt to synchronise the behaviour of national regulation authorities. But beyond these two goals, many problems remain. Doris Neuberger, Rostock University, regards the measures decided on at the G20 Summit as a breakthrough towards ensuring a stabilising and functional competition. However, they are not sufficient to ensure system stabilizing competition. In the opinion of Hermann A. Wagner, Frankfurt School of Finance & Management, the G20 resolutions did not bring about a real breakthrough in the regulation of the financial markets. At most we can see a breakthrough for the realisation that all countries must work together on a solution. For Thorsten Polleit, Frankfurt School of Finance & Management, the cause of the crisis, "the governmental system in which money is created by credit", remains untouched by the policy measures. He sees a way out of the crisis cycle in a reform concept for "good money in the form of free banking and the privatisation of money". And finally, Irwin Collier, Free University of Berlin, examines the regulation on the US financial markets.