Regulatory policy and monetary union  Walter Eucken is regarded as the founding father of German ordoliberalism, developed by the Freiburg School. The core element of ordoliberalism is competition, but not classical unrestrained competition but protected, ordered competition. The ordoliberals’ objective was always to provide a stable environment for competition, not to actively manage it.
While being subject to considerable uncertainty, recent comprehensive impact studies by the Basel Committee and the Financial Stability Board suggest the economic impact during the transition period will be moderate and that the long-term net benefits will be positive. Now it is up to the G20 Heads of State and Government to approve the package at their Seoul summit in November.