The US and European economies, like Japan’s before them, still carry the wounds and scars of their immense crash, but what they now need is not emergency blood transfusions but deeper fitness regimes. Curbing the financial sector, as Martin Wolf, chief economics commentator of the Financial Times has written,7 ought to be a vital part of that new fitness regime, rather like cutting out an injuriously fatty part of your diet to avoid the recurrence of cardiac arrest.
