Acting alone ignores interconnectedness

Financial centres around the world should tackle regulation in harmony to reflect the fact that markets across the globe are interconnected and current problems are global phenomena, writes Angela Knight.

by Banker Editor

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Governments of all persuasions have taken credit for the benefits that a liberalised banking system has brought to their economies. Yet, now that those economies are in difficulties, it is all the banking industry’s fault.

If a bank has a problem now, it is a political issue; and if it has retail customers, it is a highly political issue.

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Acting alone ignores interconnectedness

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