Effective global regulation

Government ownership of banks - something unthinkable until very recently for the 'Anglo-Saxon' model of capitalism -- became a reality early in 2008. This was a policy response to an unprecedented global financial crisis, aimed at preventing financial meltdown. It succeeded in doing so, according to Professor Panicos Demetriades, an Economist funded by the Economic and Social Research Council (ESRC) at the Department of Economics of the University of Leicester.

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