PM blames rich nations for economic crisis

PUBLISHED ON: October 26, 2008 | Duration: 0 min, 56 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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