New! Chapter 12 Financial Market Failure and Financial Crisis puts forward arguments concerning for example,  the ability of small firms to borrow, the problems of financial exclusion and inadequate long-term saving and the tendency in financial markets to bubbles and crashes. New! Thoroughly updated to include new figures and recent legislative and regulatory changes. Provides a comprehensive coverage of the workings of financial markets. Contains sufficient theory to enable students to make sense of current events. Up-to-date coverage of the role of central banks and the regulation of financial systems. Focuses on UK and European financial activity, context and constraints. Offers a wealth of statistical information to illustrate and support the text. Extensive pedagogy includes revised boxes, illustrations, keywords/concepts, discussion questions, chapter openers, chapter summaries and numerous worked examples. Frequent use of material from the Financial Times. Regularly maintained and updated Companion Website containing valuable teaching and learning material.