Analysts worldwide are debating who was responsible for the crisis: Western countries or financial markets? The share of the blame lies with both the states as well as the financial markets.
Politicians lose, not being able to respond to the sharp globalization of financial markets, creating reasonable rules for the functioning of the global market. Thus, the balance between global functioning economy, on the one hand, and locally operating policies - on the other - was strongly disturbed. Serious lack of the knowledge - what "global and integrated world and its functioning" is ... seems so..