Andreas Frank reports:   The enormous power and destructive influence of financial markets became apparent after the global economic collapse of 2008.

This event revealed a need for bringing the sector under democratic public ownership; failing that, stronger regulations for financial markets at the very least. But political will has been lacking on both counts. The sector enjoys massive financial resources and successfully translates them into political influence.

The EU’s financial industry spends more than €120 million per year and employs over 1,700 lobbyists to work in the EU institutions, according to new research by transparency campaigners.   Financial Lobby Power