Financial Times FT.com

Global institutions: Sleepwalking into financial crisis

By Chris Giles

Published: October 6 2005 16:34 | Last updated: October 6 2005 16:34

Washington this autumn was hot and sultry. Finance ministers and central bank governors of the group of seven leading economies gathered for one of their regular meetings and discussed high oil prices and global imbalances. The topics were high on the agenda of the annual meeting of the International Monetary Fund.

If the autumn meetings were judged by numbers of police, size of delegations or number of documents produced, the world was getting to grips with the subject.

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