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South Korea, which currently holds the chair of the Group of 20 (G-20), hosted a meeting of finance ministers and central bankers in the southern city of Busan on June 4. Talks centred on how to overhaul the global financial regulatory environment in the wake of the 2008 crisis. South Korea pushed for the establishment of permanent foreign-currency swap arrangements between central banks, in the mould of temporary swap lines the Bank of Korea organised in late-2008, in order to avoid foreign currency liquidity squeezes. A further summit will be held in Canada, before the G-20 once again meets in

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