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Power Failure at the Central Bank

Monday 19 May 2008 20:00-20:30 (Radio 4 FM)


Business editor Robert Peston examines the crisis in the international banking system.

For the last six decades, central bankers from the most developed countries have managed the global economy, manipulating international finances with the aid of a powerful set of economic levers handed to them after the Second World War. Last year the levers became disconnected from the machinery and the central banking system has suffered a severe loss of power.

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