Multilateralism - Making the Market Work
This is not the end of capitalism, but “the global financial system will never be the same again.” ++ Those responsible for the mess are now entrusted with cleaning it up. ++ Politicians had little choice: socialize the debt or sit and watch as depositors are sucked into the maelstrom. ++ The primary task of politicians should be to establish a system of credible international governance; this is, ironically, the only way of restoring financial sovereignty in the face of globalization while avoiding a backlash of economic nationalism.
