In wake of crisis, global finance takes on a new shape

In a column for Reuters news, economic analyst Mohamed El-Erian outlines how the financial crisis in Europe and the fallout on Wall Street is reshaping global finance and how that will impact economic growth and job creation.

“All this will translate into a very different financial landscape. The change will be most pronounced for banks. Look for western banks to be less complex, less global, somewhat less inter-connected and, therefore, less systemic,” writes El-Erian.