International Liquidity and the Financial Crisis

´The financial crisis that began in 2007 is a terrifying event, comparable only with the Great Depression between the world wars. Few expected it. Its effects spread almost everywhere. But it could have been so much worse. Allen´s powerful new book moves from where, how and why it began, to describe and analyse the numerous things that central banks and governments around the world did to try to contain it. This volume is a well documented, highly readable must-read for everyone interested in the largely untold story of how it was that official reactions would help to prevent a really nasty crisis turning into an absolute disaster.´ Peter Sinclair, University of Birmingham