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On Monday, Papandreou compared currency speculators to arsonists. "It is common sense, enforced by insurance regulators, that a person is not allowed to buy fire insurance on his neighbor's house, and then burn it down to collect on that insurance," Papandreou said. "If Europe and America jointly step in to shore up global financial regulation, and to finally ensure enforcement of regulations, we can curtail such activities." Papaconstantinou warned that leading economic powers have not yet implemented the changes needed to avoid another financial crisis. "The real question that we should be asking ourselves on both sides of the ocean is: Have we learned the lessons of that financial crisis?" he said. "I think the honest answer is that despite some political will to do so, we haven't actually taken all the necessary measures."
[Associated
Press;
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