As a result, the balance between liability and control has been thrown out of kilter. However, striking an even balance between liability and control is crucial 6/9  BIS central bankers' speeches  for the functioning of the EMU.
The progress in lowering trade barriers since World War II marks the triumph of putting an important idea into practice - that international trade benefits all nations. Indeed, in every nation, those benefits are shared by people spread across quite different income brackets. The pity is that this idea has been well known in the economics profession for the two past centuries.