Please critically discuss within 4500 words following question by referring to the relevant financial law doctrine and literature
Question：
Some commentators argue that the “universal” or Single Point of Entry approach to cross-border bank insolvency and resolution is better than the “territorial” or Multiple Point of Entry approach. Do you agree?
4500 words
The word limitation includes footnotes and endnotes, but excludes the title, bibliography and any appendix or appendices. (In certain circumstances it may be necessary to include an appendix or appendices in a coursework submission, but such material will not be assessed and will not garner extra marks.) Penalties will be imposed for work that exceeds the prescribed word limitation. The penalties for exceeding the word limitation are: up to 10% over the limit, a deduction of 5 marks, with a further 5 marks deducted for each subsequent 10% or part therefore by which the word limit is exceeded. These penalties will be imposed strictly.