And since the purpose of international standards is to encourage such markets on a global scale, it makes sense to use these countries' standards as a guide.

ECONOMIST: A hill of beans

Economics 101 tells us that this is exactly the type of industry in which the banks could gain economies of scale and create tremendous value by consolidation around open industry standards and a common technology platform.

FORBES: Enabling Lower Cost Peer-To-Peer Money Transfers?

It also said it hoped their co-operation would help "define global specifications and component standards, an important prerequisite for achieving higher economies of scale".

BBC: Nissan FCEV on display at a car show in Brussels in January

Fifty-five percent of New York students met the English Language Arts proficiency standards in 2012 by scoring at least a 3 on a scale of 1 to 4, and 65 percent scored at least a 3 on the math tests.

WSJ: Some NY parents to boycott new, harder state tests

Though Brazil pays junior researchers well by international standards, the same is not true at the top of the scale.

ECONOMIST: Science in Brazil: Go south, young scientist | The

The more freely prices may move and the more certain the scale, the better the invisible hand can conduct a harmonious improvement in living standards for all.

FORBES: Oil Spikes, Double Dips And Dilapidated Dollars

With an underlying computational fabric that enables collaboration on a massive scale across borders, we are beginning to see what is possible if we combine open standards with crowdsourcing our global challenges.

FORBES: How Cloud Computing Can Boost Developing Nations

But by U.S. standards, Utah's pollution index is off the charts with readings routinely exceeding a scale that tops out at 70 micrograms a cubic meter.

NPR: Sickening Fog Settles Over Salt Lake City Area

The Citizens Advice Bureau (CAB) said it was difficult to assess the scale of the problem in Wales as victims were very reluctant to report problems to the police or trading standards.

BBC: NEWS | UK | Wales | South West Wales | Special team targets loan sharks