On balance, there appears to be a greater advantage in achieving a well-managed and appropriate integration into the global process, which would imply more effective – but not necessarily intrusive or extensive – interventions by governments.
From the perspective of the citizen, a liability vis-à-vis the central bank is more valuable than one vis-à-vis a commercial bank, not least because of the different credit risks. Bank deposits and other commercial bank liabilities are highly protected, but they are not absolutely risk-free. A central bank, however, can never become illiquid and can always honour its liabilities.