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The decision was greeted with enthusiasm by markets.
One is the signal being flashed by markets.
"The decision was priced in by markets," said Ionut Dumitru of Raiffeisen Bank in Bucharest.
More fundamentally, everyone affected by markets distorted by such illicit trading is a victim.
Government bond holdings have an insidious effect on the way banks are perceived by markets.
Rates are determined not only by markets, but also by government policy.
Jamaica's opened in 1969, followed by markets in Trinidad, Barbados and (last year) the Bahamas.
Follis's world is not shaped by markets and incentives and institutional choices.
"The politicians need to be pressed by markets to be forced to the table," he said.
What's more, Basel's move to enlarge American banks' assets would also be welcome by markets.
A market society is not, consequently, merely a society coordinated by markets.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com