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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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