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Translated Summaries

In The Journal of Regulation the summaries’ translation are done by the Editors and not by the authors

ENGLISH

While financial regulation aims at achieving market stability, regulating markets can sometimes take an ironic turn when regulations end up having consequences that differ from their original regulatory purpose. The article provides such an example of regulation’s irony: how a regulatory change in Germany led Moody’s to downgrade 12 banks, therefore weakening such institutions and consequently enhancing the current issues of market volatility and credit cost.

 

FRENCH

Bien que la réglementation financière vise à assurer la stabilité du marché, la régulation des marchés peut parfois prendre une tournure ironique quand la régulation finit par avoir des conséquences qui diffèrent de son objectif de régulation d’origine. L’article fournit un exemple de l’ironie de la régulation : comment un changement de réglementation en Allemagne a conduit Moody’s à déclasser 12 banques allemandes,, donc à affaiblir ces institutions et par conséquent à accroître les problèmes actuels de la volatilité du marché et le coût du crédit.

ITALIAN

Quando la regolazione è volta ad ottenere la stabilità del mercato, l’evoluzione di questi mercati oggetto di tale regolazione può essere particolarmente ironica quando la regolazione ha delle conseguenze ben differenti da quelle originariamente prepostesi. Questo articolo cerca quindi di mettere in evidenza un esempio di questa ironia: in effetti, un cambio di regolatore in Germania ha portato Moody’s a tagliare il rating di 12 banche, indebolendo ancora di più tali istituzioni ed aumentando si conseguenza le questioni relative alla volatilità del mercato e del costo del credito.

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Other translations forthcoming

Philippe Poiget became a member of the Fédération Française des Sociétés d'Assurances (FFSA) in 1985 and then became their Director of Legal, Tax, and Competition Affairs in 2002. (...)

Jean-François Vilotte graduated from the Université Panthéon-Sorbonne (Paris I) with an advanced degree in public law, and was educated at the Ecole National d'Administration (ENA), where he graduated with the Leonardo da Vinci class. (...)

Claude Cazes holds a diploma from the Faculty of Law and Economic Sciences in Montpellier, and a Master’s degree in accounting from the Ecole Supérieure de Commerce in Reims. He founded CAZES GODDYN in Montpellier in 1980, (...)

Jérôme Haas' studies consisted in a bachelors' degree in law, and diploma from Sciences Po Paris. Following his graduation from the ENA, he became a member of the Direction du Trésor. On January 15, 2010, he was appointed President of the Autorité des Normes Comptables. (...)

Main information

Definitive ratification of the 'three-strikes' riposte system concerning illegal downloading as part of the Hadopi II Act

Director of Paris-Dauphine’s Master of International affairs.