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Investing in Change: The Reform of Europe?s Financial Markets by Andrew Gowers

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2Where the G20 process went right and wrongSHRITI VADERA

At the height of the financial crisis at the end of September 2008 the leaders of France, Germany and the UK persuaded a reluctant President George W. Bush to agree to the first G20 leaders’ summit to boost confidence in the global economy. He agreed on two conditions: he would not have to travel to it; and they would ensure there would be some substance to which leaders could be seen to agree. He was somewhat indifferent to what that substance ought to be. It is perhaps not surprising that despite strong momentum and some achievements during 2009, the latest experiment in international coordination has largely lived down to its inauspicious start.

A good start

The fact that such a broad ...

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