Contributor(s): Howard Davies and Paul Volcker | Howard Davies is director of LSE. Prior to this, from 1997-2003 he was Chairman of the Financial Services Authority, the single regulator for the UK financial sector, which was created under his leadership from nine separate regulatory agencies. From 1995-1997 he was Deputy Governor of the Bank of England. His latest book is Banking on the Future: the fall and rise of central banking, written with David Green, which will be launched at LSE at a public debate on 12 May.