from Yona Maro

While there are many similarities between the current turmoil and developing country crises, there are also big differences. In particular, developing countries have often been on the receiving end of forces they could do nothing about. This does not mean that they were always blameless – though often this was the case – but they could do nothing about the instability emanating from major financial centres in the developed world. In Europe and the United States this is not the case.

As well as getting their own houses in order politically and economically, they are also in a position to reshape global financial markets and make crises the exception rather than the norm. An example is the recent agreement by France and Germany to push for a financial transaction tax in Europe. The usual howls of protest and predictions of catastrophe will no doubt be heard from vested interests, but such a proposal makes a lot of sense, particularly if implemented in the global financial centres of Europe.
http://www.globalisationanddevelopment.com/2011/08/global-financial-turmoil-part-ii-five.html

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