The enhanced coordination proposal put forward by the IMF is a pragmatic approach to address the cross-border resolution challenges in a manner that is achievable in the near future. The approach would form the basis for incremental progress being made as more and more countries voluntarily adhere to the framework over time. The “carrot” that would encourage countries to do so would be the possibility of a more effective and value-preserving international resolution. In the near term, a limited group of countries that already meet the standards could begin to cooperate amongst themselves. To the extent that these countries include the world’s principal financial centers, such cooperation would represent a major step forward. As other countries (e.g., developing countries and emerging markets) adhere to the standards over time, the circle of cooperation would expand. It would therefore represent a pragmatic and achievable mechanism for the strengthening of international cooperation worldwide.