How can we prevent the next international financial crisis?

![CDATA[Over the last decade or so there have been significant currency issues, often associated with severe economic, social and political distress. Some of the more significant crises occurred in 1992/93 in Europe, in 1994/95 in Mexico, in 1997/98 in East and South-East Asia, in 1998 in Russia, in 1999 in Brazil and in 2002 in Argentina. The frequency and intensity of financial crises has led many observers to question how efficiently global financial markets function in an environment of volatile short-term capital flows and exchange rate instability. Others suggest that rates are unstable because underlying monetary and fiscal policies are unstable. How can we reconstruct the global financial architecture so as to reduce the likelihood of financial crises occurring and reduce their severity when they do occur?]]