Manmohan blames rich nations for financial mess

PUBLISHED ON: October 25, 2008 | Duration: 1 min, 41 sec

  
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When markets fail, governments must act. At the Asia-Europe summit in Beijing, Dr Singh minced no words. "The international financial crisis has resulted because of a regulatory and supervisory failure in developed countries; failure to minimise risks by private financial institutions and a lack of market discipline mechanism," he said.
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