It’s official: the financial services sector in the UK has grown to be larger ‘than is socially optimal’ (Lord Turner, FSA). Government support for the banking sector is ‘close to two-thirds of the annual output of the entire economy’. ‘We shall all be paying for the impact of this crisis on the public finances for a generation’ (Mervyn King, Bank of England)
- What were the causes of the first global bank run?
- What reform measures are required and how effective will they be?
- Can the City of London reform and reinvent itself?
- What are the social functions of banking?
- Are banks subject to market forces or do they create their own market conditions?
This book brings together international experts and academics, financial decision-makers and bankers, policy-makers and politicians to give their answers and solutions.
Contributors: John McFall, Stuart Fraser, John Kay, Xuecheng Jing, Saskia Sassen, Nick Kochan, Michael Mainelli, Chris Dixon, Thomas Harris, Stephen Haseler, Sam Whimster, Viara Bojkova, Mark Field, Mica Panic, Jocelyn Pixley, Jacques Reland, Helen Parry