Ex-IMF adviser calls for 'hard rules' on cross-border resolutions

The Harley Street entrance of the London Clinic

New hard laws should be agreed between nations as part of a new international framework on cross-border resolutions, Rosa Lastra, a professor at Queen Mary University of London and a former adviser to the IMF, said on Friday.

At the Annual Conference at the British Institute of International and Comparative Law in London, Lastra said the financial crisis had "exposed" the limitations of relying upon a "loose network of soft law standards" and that a new mechanism, which applied "hard law rules",

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