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The Global Financial Crisis And Government Support For Banks : What Role For The GATS?

This paper examines whether the GATS is a useful instrument to tackle government support that creates distortions of international competition in the banking sector. The GATS has no specific provisions on subsidies. However, general support schemes ‘as such’ or ‘as applied’ may violate Article XVII if they exclude foreign- owned banks with a commercial presence in the territory of the WTO Member that adopts the scheme. This depends on the specific commitments of the WTO Member and the limitations to this commitment. Moreover, it is required that the excluded banks are ‘like’ the domestic banks. A single application of a general scheme may violate Article VI:1 if solid evidence is available that this application is not reasonable, objective or impartial. Despite these possible violations, the great majority of measures will still be justified under the broad ‘prudential carve-out’. Only support measures that are not reasonably able to achieve the prudential goal will not be exempted. Hence, the GATS imposes only in very limited cases restraint on government support. The WTO Members should address the remaining uncertainties with regard to both the obligations and the exception. This would ensure that the GATS is able to prevent that government support distorts competition and would also alleviate concerns that the GATS constitutes a danger to financial stability.

International Approach to Liberalisation of Trade in Financial Services - doctoral thesis on Financial Services Regulation

This is a high quality, law book by Professor Bart De Meester. whose writing style is very readable on trade deals regulation of financial services- especially banking, very relevant to the mess we find ourselves in today.. Especially see: INTERNATIONAL APPROACH TO LIBERALISATION OF TRADE IN BANKING SERVICES see CHAPTER III.2 LIMITATIONS ON THE RIGHT OF WTO MEMBERS TO REGULATE THE BANKING SECTOR

The Interaction between European and International Liberalisation of International Trade in Banking Services

by Bart De Meester - This is a doctoral thesis, a quite substantial tome, written like a textbook, on banking and the WTO, its particularly useful it seems because the areas I am interested in have gotten examination in the European context - here in the US where the GATS is not well known to put it mildly, perhaps not so much, at least I have not found much. Plus I cant afford to go out buying books on the subject, as they are expensive, really expensive. Anyway, this looks very informative and its quite understandable as these kinds of books go. I'm sure Mr. De Meester will do very well. Thank you!