2  Fundación de Estudios Financieros (2009), Observatorio sobre la Reforma de los Mercados Financieros Europeos, Papeles de la Fundación N. 34. 3  Albert O. Hirschman (1991), The Rethoric of Reaction: Perversity, Futility, Jeopardy, Cambridge MA; Harvard University Press. BIS Review 6/2010  1  regulatory and supervisory framework in order to provide sounder foundations to our financial systems.
In a globalised economy, the dwindling of individual influence may actually be reversed through integration. Of course, this is only true if countries and their citizens are involved in joint decision-making. The degree of participation is therefore much more important than the level of policy assignment to determine whether sovereignty is lost, shared or actually gained.