Panicos Demetriades, Svetlana Andrianova, Anja Shortland, 20 January 2010

The nationalisation of banks as a result of the global economic crisis has been a source of controversy. This column argues that governments should not feel pressured to re-privatise the banks. Once the black sheep of high finance, government owned banks can reassure depositors about the safety of their savings and can help maintain a focus on productive investment in a world in which effective financial regulation remains more of an aspiration than a reality.

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