"Cross-Border Bank Insolvency" by Rosa Lastra is a timely and comprehensive analysis of the complex issues associated with cross-border bank insolvency, particularly in the context of the financial crisis. Here is a detailed overview of the book:

Key Themes

1. Cross-Border Insolvency Issues: The book delves into the intricacies of insolvency in banks that operate across national borders. It examines the challenges and policy considerations that arise when dealing with the insolvency of a bank that has operations in multiple jurisdictions.
2. Financial Crisis Context: The book places its analysis within the context of the 2008 global financial crisis, highlighting how the sudden and disorderly closure of institutions like Lehman Brothers exposed the disconnection between global markets and national law.
3. Policy Considerations: Lastra discusses the policy considerations that official safety net players must take into account when dealing with cross-border bank insolvency. This includes the need for a sound framework to ensure financial stability both within the EU and internationally.
4. Regulatory Frameworks: The book explores the need for an appropriate legal framework for national central banks, the European Central Bank, and the International Monetary Fund to address cross-border bank insolvency effectively.

Plot Summary

The book provides an in-depth examination of the issues surrounding cross-border bank insolvency. It starts by analyzing the historical context of bank failures and their impact on global financial systems. The author then delves into the policy considerations and regulatory frameworks necessary to mitigate the risks associated with cross-border bank failures. The book also discusses the disconnection between global markets and national law, which was highlighted by the Lehman Brothers collapse in 2008. It argues for a more integrated approach to financial regulation and resolution to ensure better preparedness for future crises.

Critical Reception

While specific reviews of the book are not provided in the search results, Rosa Lastra's work is widely recognized for its pioneering contributions to international financial law. Her research is praised for filling critical gaps in international financial law and addressing cross-border issues effectively. The book is considered a seminal work in the field, providing a comprehensive framework for understanding and addressing cross-border bank insolvency.

In summary, "Cross-Border Bank Insolvency" by Rosa Lastra is a critical analysis of the complex issues surrounding cross-border bank insolvency, particularly in the context of the 2008 financial crisis. The book provides a detailed examination of policy considerations, regulatory frameworks, and the need for integrated financial regulation to ensure global financial stability. Its critical reception highlights its significance in the field of international financial law.