The communication difficulties between the UK Treasury, the FSA and the Bank of England during the Northern Rock crisis in 2007 illustrated some of the problems that can occur when there is incomplete co-ordination between the lender of last resort and the bank supervisor.
Mr Dodik has met Brcko's international supervisor to discuss implementation of the decision, and continues to say he wants to co-operate with Bosnia's international overseers.
Last year, IMF Chief economist Olivier Blanchard released a paper co-authored with Daniel Leigh examining the impact of fiscal austerity (Full disclosure: Blanchard was my PhD supervisor).