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This paper proposes an integrated crisis management and resolution framework for the EU's single banking market. It comprises a European Resolution Authority (ERA), armed with the mandate and the tools to deal cost-effectively with failing systemic cross-border banks, and is designed to address many fundamental operational and incentive problems. It also seeks to reduce moral hazard and better protect countries against the risk of twin fiscal-financial crises by detaching banks from government budgets. The ERA would be most effective if it were twinned or combined with a European Deposit Insurance and Resolution Fund.
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"All organizations are under threat from risks both internal and external that can result in serious crises. Managing risk and crisis in a complex, information (and misinformation) rich, and interdependent world is the key task leaders face. In this book Tom Cole, a noted corporate attorney, collaborates with Paul Verbinnen, an expert on communications in crises, to show how leadership should manage risk, and prepare for and handle crises. The steps, plans, and cautions they offer demonstrate that organizations can deal strategically with crisis, survive, and prosper. The authors cover internal and external crises ranging from defective products to cyberattacks and the COVID pandemic. The authors outline a series of steps an organization should take, beginning with an analysis of likely risks and potential crises, with an emphasis on preparation and planning before a crisis happens. After a crisis is over, they stress the importance of reviewing how the crisis was handled to derive lessons for the future. They draw together the legal, organizational, and communications challenges posed by a crisis, showing how they relate to each other in developing strategy. They creatively use examples from recent crises, critiquing how organizations have handled different aspects of crises. This is a book for managers of both for-profit and not-for-profit organizations, their board members, those involved in aspects of crisis management, students, and journalists"--
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This edited volume compares experiences of how the Covid-19 pandemic was communicated in the Nordic countries - Denmark, Finland, Iceland, Norway, and Sweden. The Nordic countries are often discussed in terms of similarities concerning an extensive welfare system, economic policies, media systems, and high levels of trust in societal actors. However, in the wake of a global pandemic, the countries' coping strategies varied, creating certain question marks on the existence of a "Nordic model". The chapters give a broad overview of crisis communication in the Nordic countries during the first year of the Covid-19 pandemic by combining organisational and societal theoretical perspectives and encompassing crisis response from governments, public health authorities, lobbyists, corporations, news media, and citizens. The results show several similarities, such as political and governmental responses highlighting solidarity and the need for exceptional measures, as expressed in press conferences, social media posts, information campaigns, and speeches. The media coverage relied on experts and was mainly informative, with few critical investigations during the initial phases. Moreover, surveys and interviews show the importance of news media for citizens' coping strategies, but also that citizens mostly trusted both politicians and health authorities during the crisis. This book is of interest to all who are looking to understand societal crisis management on a comprehensive level. The volume contains chapters from leading experts from all the Nordic countries and is edited by a team with complementary expertise on crisis communication, political communication, and journalism, consisting of Bengt Johansson, Øyvind Ihlen, Jenny Lindholm, and Mark Blach-Ørsten. .
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To better respond to the unprecedented demand from the membership for financing and crisis support in response to the covid-19 pandemic, there is a temporary postponement of staff's work on Article IV consultations and mandatory Financial Stability Assessments. To ensure the postponement has no adverse impact of members' compliance with their obligations, the deadlines for upcoming Article IV consultations and for discussions with currency unions have been extended by 6 months. This paper provides additional background on these temporary arrangements.
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Since the 2022 Spring Meetings, the IEO has completed two evaluations-on IMF engagement with small developing states and capacity development. We have also made significant progress on a third evaluation on the IMF's emergency response to the COVID pandemic. In addition, a list of new evaluation topics has been drawn up for discussion with the Executive Board later this year.
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