ABSTRACT
This chapter focuses on most important warnings sent out by global financial markets - warnings concerning both an underdeveloped structure and overdeveloped processes. Financial market operations spanned the globe and contributed greatly to ever-growing integration and interdependence of national economies. International financial problems have increasingly come under the scope of international relations that is foreign policy: By becoming truly international actors, banks have entered as fall participants into the realm of foreign policy. Financial markets perform a wide range of functions in the process of social reproduction. Financial links created the underlying structure of global interdependence wherein almost each and every issue cuts across finance. "High finance" outgrew the limits of so-called low politics and increasingly became the auspices of "high politics". Specific regulatory ruptures persist in the world financial system, and the climate created therein has always been more than favourable for various speculative, fraudulent and, in general, uncontrollable activities to be undertaken.
