The effects of the 2008 financial crisis were still reverberating throughout the global economy, with unemployment continuing to plague many countries. Europe in particular is experiencing a debt crisis that is leading to the spread of austerity measures across the continent.

Global regulators persisted in dragging their feet and doing little to hold the financial sector accountable for the impacts of its irresponsibility. In the United States, intense bank lobbying stymied the implementation of new financial regulations, while in Europe financial regulations lagged even further behind.

Yet in the midst of these events, glimmers of hope emerged in 2011. The global Occupy Wall Street movement galvanized international public opinion aroud the need for the financial sector to be held a accountable for its actions, and to deliver social benefits to the real economy.

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By BankTrack