The report of the Commission of Experts of the President of the United Nations General Assembly on ‘Reforms
of the International Monetary and Financial System’ presented at the ‘UN Conference on the World Financial
and Economic Crisis and its Impact on Development’ in June 2009 stated:

“The framework for financial market liberalization under the WTO and, even more, similar provisions in
bilateral trade agreements may restrict the ability of governments to change the regulatory structure in ways
which support financial stability, economic growth, and the welfare of vulnerable consumers and investors ”
(p.55) http://www.un.org/ga/president/63/interactive/financialcrisis/PreliminaryReport210509.pdf

Critically discuss the above statement with reference to the legal implications of actions taken to improve
the stability of the global financial system.

Learning Outcomes: Students will be expected to be able to:

– demonstrate knowledge of the key institutions/ structures, principles and concepts of international
economic law and their relevance to international economic relations
– identify the relevant sources of international economic law and their relationship to domestic legal
systems
– demonstrate a clear understanding and critical appreciation of the legal, economic and political
issues involved in structures of global economic governance
– carry out competent and independent research into some aspects of the law relating to international
regulatory institutions
– present and communicate their research findings effectively
– consider and critically assess the different approaches to the problems and issues raised and, where
appropriate, to review critically the relationship of law to economics in this area.