They send about $ billion annually to their families at home. Remittances constitute more than net official ODA in many economies. There was, thus, a tremendous fissile potential in both these channels and we, in Africa, can count ourselves lucky that they have not been put to the test, at least so far.
The objective of good regulation is and has always been to prevent economic bubbles from forming as far as this is possible and – if a crisis is unavoidable – to limit its impact on the general public and the economy. It is just that therein lies the major challenge: what is the correct measure? What constitutes a proportionate intervention?