Can We Regulate Systemic Risk?
In the past two years, we have had two dangerous episodes of financial instability and sudden change in market dynamics. More are likely, because the global economy is out of balance in several respects as we emerge from the crisis, particularly in terms of the distribution of sovereign debt and the structure of global demand.
MILAN – In the past two years, two dangerous episodes of financial instability and sudden changes in market dynamics have hit the world economy. More are likely, because the global economy is out of balance in several respects as it emerges from the crisis, particularly in terms of sovereign debt and the structure of global demand.