When the global crisis erupted in 2008, there was no regulatory framework to protect the cross-border networks, and large vulnerabilities, in the form of excessive leverage and foreign exchange, were exposed.
Cuando estalló la crisis mundial en 2008 no existía un marco regulatorio que protegiese las redes internacionales, y quedaron expuestas grandes vulnerabilidades en forma de excesivos apalancamientos y tasas de cambio.