Mumbai terror attacks highlight risk to financial regions
The terrible terrorist attacks of last few days in Mumbai have highlighted the ease with which terrorists were able to attack a lucrative and highly important area of the Indian financial sector and cause havoc. Yet again we see the power of the financial sectors around the world and the attractions which they have to various extremist groups.
While the UK financial sector is obviously London, there have been major improvements in the technology used within the various financial markets and many businesses are able to operate outside of the capital. As demonstrated by the situation in Mumbai, attacks on financial regions do have an local impact but their overall impact on the stability and functionality of the underlying financial markets is minimal. However, it will be interesting to see how financial sectors around the world react to the threat of extremist groups and the potential disruptions and loss of life they can bring.
Some areas of London have for some time been under the strictest of security measures in order to limit the potential for similar attacks. However, perhaps the most damaging attacks to financial markets and financial stability around the world are those perpetrated using the latest technology which in some instances has brought dealing systems crashing down.
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