February 06, 2013

The Basel Committee must stop bribing the banks!

Sir, Jean Pisani-Ferry writes “Bribery is no way to reform Europe’s economy” February 6.

Absolutely! Continuing with the policy of bribing the banks with lower capital requirements for what is perceived as “absolutely safe” so that they don’t engage with what is perceived as “risky”, as the Basel Committee proposes to do with Basel III does, is no way to reform Europe, or the US for that matter.