“Western governments have put in place banking regulations that could be ‘mutually destructive’ and undermine efforts to prevent bust banks from costing taxpayers billions of pounds, according to a report by the International Monetary Fund. Policymakers representing the world’s biggest financial centres have failed to make the banking sector stand on its own feet by ending implicit subsidies and co-ordinating rescue plans when multinational banks go bust, the Washington-based lender of last resort said. Subsidies to the banking sector in some countries are as high as they were before the crash, amounting to $590bn (£355bn), with the eurozone the worst affected.”
Related posts:
Emerging market turmoil 'not another' currency crisis: analysts
China Finds $15 Billion of Loans Backed by Fake Gold Trades
Russia says U.S. 'hunting' for Russians to arrest around the world
Half of Affordable Care Act call center jobs will be part-time
Drone owners must register with FAA, starting December 21
Venezuela just defaulted, and you may own its debt
City may sue developer who spent $20,000 to remove 40 tons of trash from vacant lot
France bombs Isis depot in Iraq
Privacy fears over artificial intelligence as crimestopper
Why The Deep Web Has Washington Worried
BIS blames European banks for eternal euro crisis
ICE Agents Raid Wrong House In Moore, OK
UK government pays Libyan dissident’s family £2.2 million over MI6-aided rendition
300 tonnes of radioactive water is worst leak yet at Japan’s Fukushima
Get ready for the ‘War on Sugar’