SNB's Hildebrand on financial markets

In the speech 'Do financial markets promote responsible behaviour?' given on 21 May, Philipp Hildebrand of the Swiss National Bank said there are times in history when the world economy undergoes fundamental structural change. With the rapid integration into the global economy of China and India, we are experiencing such historic change.

"Fundamental structural economic change invariably produces economic victims. The temptation for governments to interfere excessively with the free market is

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