In order to carve a way forward for the global economy, more than 2,500 delegates met at Davos. There was a discussion on concerns like 'regulation for the financial system and who should be blamed for the economic crisis.' It was concluded that 'blame-game' that was going on between Bankers and Politicians has to end and a 'reforming system' should be set up to cope up with the recession which still prevails.

Josef Ackermann, Chief Executive of Deutsche Bank, said, "I mean it's a little bit too simple to put all the blame on bankers and banks. That's a very important part of the problem, but in addition I think there have been political failures. There have been market inefficiencies and of course there have been bank failures."

The broad agreement that materialized out of the summit: 'The global economy is still not completely out of the woods' concluded after five days of energetic debate that the call of the time was a steady recovery and no hasty departure of "stimulus" should occur. An agreement was finalized among the leaders that this 'post-crisis world' needs more regulatory measures.

The Standard Chartered Chief Executive, Mr. Sands appeared at Davos as the sincere broker between the two sides, making an effort to resolve the views of banks with the views of politicians.