Inclusion as part of the Financial Stability Forum, a group of regulators and central bankers charged with the technicalities of financial supervision, may also make them more willing to support an expansion of the fund.

ECONOMIST: The G20 in London

Dr Wilson suspects that the liberal package of individualism and confrontation is the appropriate response to survival in a stable environment in which there is leisure for learning and reflection, and the consequences for a group's stability of such dissent are low.

ECONOMIST: Human evolution: Moral thinking | The

Instead, he rejoices in the in-built stability of a group that serves every industrial sector and has a footprint in 100 countries.

ECONOMIST: Face value

Central bank liquidity policy needs refining and harmonising, as the Financial Stability Forum, a group of banking-industry regulators, made clear in a report in April.

ECONOMIST: Bank liquidity

This completed a hat-trick: on May 25th, a report on bank supervision from the Financial Stability Forum, a group of international regulators, had ranked the islands in the lowest grade.

ECONOMIST: All havens in a storm | The

And last month, after a judge had thrown out two additional charges, his trial began on four counts: failing to ensure that a financial stability group delivered the required results, failing to take action to reduce the size of Iceland's banking system, failing to verify the move of accounts from Landsbanki bank's Icesave program, and failing to focus more Cabinet meetings on the crisis.

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He also noted that the Group of 20 leading industrial nations had pledged not to undertake competitive currency devaluations as such action undermines economic and financial stability.

CNN: Weidmann warns of currency war risk