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18 Eur. L.J. 1 (2012)

handle is hein.journals/eurlj18 and id is 1 raw text is: European Law Journal, Vol. 18, No. 1, January 2012, pp. 1-5. C 2011 Blackwell Publishing Ltd., 9600 Garsington Road, Oxford, OX4 2DQ, UK and 350 Main Street, Malden, MA 02148, USA Introduction Francis Snyder* The current financial crisis, beginning in 2007, has shed a harsh light on the regulation of financial markets and on modes of economic governance. From a European as well as global perspective, it has revealed institutional gaps, structural shortcomings and enduring problems in the regulation of financial markets throughout the world. In the EU, this was perhaps to be expected because European economic and monetary union (EMU), since its beginning, has been marked by an imbalance between economic integration and monetary integration.' More broadly, however, the financial crisis so far has demonstrated to policy makers and citizens alike, in Europe and elsewhere, that fundamental reforms are necessary in the ways in which financial markets are regulated and in the organisation of economic governance, both domestically and internation- ally. This special issue of the European Law Journal aims to contribute to this debate. The special issue is devoted to European and global perspectives on the regulation of financial markets and on economic governance. Though primarily focused on the EU, it also ranges further afield to the United States, China and international institutions, and other arrangements. It results from the 8th International Workshop for Young Scholars (WISH, or in French, the 8me Rencontre international des jeunes chercheurs (RIJC)). The 8th WISH took as its subject 'The Visible Hand: European and Global Perspectives on Financial Market Regulation and Economic Governance.' It was organised by the European Law Journal; the Chair of Banking and Finance in the Centre for European Integration at the Ecole Sup6rieure des Sciences Commerciales d'Angers (ESSCA); and the Centre d'Etudes et de Recherches Internationales et Com- munautaires (CERIC) at the Universit6 Paul C6zanne Aix-Marseille III. It was held at ESSCA in Angers on 26-27 February 2010. The 8th WISH benefited from the financial support of the European Commission, Wiley-Blackwell Publishers, the European Law Journal and ESSCA. WISH/RIJC is now well established as an annual (and so far bilingual English- French) workshop that seeks to bring together the most promising young scholars in the world to discuss specific topics in EU law. Participants come from universities of the EU Member States, countries that currently are candidates for EU membership, and * C.V. Starr, Professor of Law and Co-Director, Centre for Research on Transnational Law, Peking University School of Transnational Law: Visiting Professor, London School of Economics: Emeritus Professor, Unversit6 Paul C&zanne Aix-Marseille III: Editor-in-Chief, European Law Journal. For overviews from a legal perspective, see my articles: 'EMU Metaphor for European Union: Institu- tions, Rules and Types of Regulation', in R. Dehousse (ed), Europe after Maastricht: An Ever Closer Union? (Law Books in Europe, 1994); F. Snyder, 'EMU Revisited: Are We Making a Constitution? What Constitution Are We Making?, in P. Craig and G. de Burca (eds), The Evolution of EU Law (Oxford, 1st edn, 1999); 'EMU-Integration and Differentiation: Metaphor for European Union', in P. Craig and G. de Burca (eds), The Evolution ofEU Law (Oxford, 2nd edn, 2011).

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