NICK BEAMS: The global financial system has become increasingly
exposed to volatility and the risk of a meltdown emanating from what
were once considered stable institutions, and national-based monetary
authorities exercise a decreasing degree of control over the system.
This conclusion emerges from two analytical chapters of the Global
Financial Stability report issued by the International Monetary Fund
(IMF) on Monday in the lead-up to its spring meeting later this month.
