But that is a system which has been shaken by the evolving crisis from which it will emerge in a reconfigured form. Influencing the design of this reconfiguration through domestic, regional European, and wider international governance structures is a major preoccupation of financial policymakers: what will the role of London be in the reconfigured system, how will Ireland fare?
These are key issues preoccupying you and me respectively, and they are not unrelated. Perhaps the most contested part of the on-going and prospective reconfiguration relates to the role of governments in the financial systems of the future. And, in the European context, that includes the question: which governments or governmental agencies for which roles?