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Three Years after Asian Crisis, Policymakers Are Still Arguing over Reform ; NEWS ANALYSIS: A Stronger Global Financial Authority Is Still Needed
Beginning of article
IT IS NEARLY three years since the first signs of the turmoil, that turned into the global financial crisis, emerged in Thailand and the other developing economies of south-east Asia. The crisis prompted widespread demands for a fundamental overhaul of the international "financial architecture" and reform of institutions like the International Monetary Fund and World Bank.
With the dust as settled as it ever gets in the financial markets, a recent conference held at the Bank of England addressed the question of whether the architecture has been strengthened enough to prevent, or if not, resolve, future tempests like that of 1997-98. With participants ranging from …
