1          Introduction

Privatisation has transformed water delivery systems.  While, for households little may have changed, the underlying institutional structure has metamorphosed so that global financial capital is now an integral part of the water supply. Privatised water is now deeply embedded in the world’s financial sector. Water has been transformed from a public service to an asset class with complex financial transactions and ownership structures involving companies and investment banks from around the world. Delivery systems for water have been transformed to suit the interests of global financial capital. More