This book recounts how one country succeeded in taming the big international banks and how one country failed. By comparing financial sector reform in post-communist Hungary and Poland, it provides important lessons on how states can successfully govern their banking sectors even if these sectors are open to global competition. The author's conclusions are based on numerous interviews of finance ministers, central bankers, regulators, and foreign and domestic bank managers. It is essential reading not only for policy and financial sector professionals, but also for citizens concerned about globalization and the erosion of the state's capacity to govern financial markets.