The financial sector suffers heavier economic losses during a power outage than nearly any other sector, which makes reliability a critical issues for many firms in New York.

FORBES: Clean Energy Tops Agenda in Connecticut

The planning application was withdrawn in June 2012 with the company involved, Ayrshire Power, blaming the economic downturn and financial "uncertainty".

BBC: Hunterston Power Station in Largs

As a non-member, the U.S. retained the full panoply of tools to parry the first Russian ploy: bilateral diplomacy, relations with the four other littoral states who share our interest in blocking such Kremlin overreach, economic and financial pressure and, if all else failed, naval power.

CENTERFORSECURITYPOLICY: Russian LOST and found

That means giving European institutions more power to determine national budgets and economic policies, and to oversee the financial sector.

ECONOMIST: Charlemagne: Euro EUphemism | The

Because of the financial power of the City--seen time and time again during the current economic crisis--the government of the U.K. seems quite unable to challenge it, and the transactions the City wants to execute.

FORBES

The lesson is that giving governments more power over the economy and financial system is itself a source of potentially catastrophic financial and economic instability.

FORBES: Governments Are The Primary Creators Of Systemic Risk

The shift in global economic power to the big emerging countries in Asia means prospects look much brighter for the newer breed of financial hubs, such as Hong Kong and Singapore, than for established centres like London or New York.

ECONOMIST: Britain��s financial industry