Yes, the global financial sector has upped its game – but not nearly enough
posted by fincrisis | Wed, 07/10/2009 - 11:08Things have changed. The problem is that they have not changed nearly enough.
EU to hold special summit on financial reform
posted by fincrisis | Wed, 26/08/2009 - 16:36EU leaders are to gather on 17 September for an extra summit to decide Europe's position ahead of global talks on financial reform, with French President Nicolas Sarkozy pushing for bank managers to freeze their bonuses.
The Financial Industry Calls for Action to Strengthen the Global Financial System and Promote Stability in Financial Markets
posted by fincrisis | Thu, 30/07/2009 - 12:38The Institute of International Finance, a global association of financial services firms with over 370 members across the world, published a report spelling out their proposals for global financial regulation.
How tax havens helped to create a crisis
posted by fincrisis | Fri, 08/05/2009 - 10:28Banks employ large teams of highly paid people to devise transactions mainly for the purpose of avoiding tax. These activities seem to be far more profitable than the humdrum business of managing payments and channelling savings towards investment. Why?
Tax Havens and the Financial Crisis
posted by fincrisis | Thu, 07/05/2009 - 11:02When an entire global financial system collapses, it is reasonable to expect some bickering over the ultimate fixing of things. Rumors of dissention and talk of stimulus-paved roads to hell made everyone squeamish going into the April summit of the G20 group of large and industrialized nations in London. French President Nicolas Sarkozy even threatened to walk out on the whole thing if he didn’t get his way.
Derivatives sector answers critics
posted by fincrisis | Wed, 08/04/2009 - 14:33The financial industry will on Wednesday overhaul how it writes contracts in the credit derivatives world – an effort to rebuff criticism that the vast sector could pose a systemic threat. More than 1,400 banks and asset managers will adopt a new “big bang” protocol, which will make it easier for investors to know what will happen to credit derivatives contracts if debt defaults occur.
OECD removes tax havens from list
posted by fincrisis | Wed, 08/04/2009 - 14:30The Organisation for Economic Co-operation and Development (OECD) has removed all four countries from its blacklist of tax havens. The blacklist published last week included Costa Rica, Malaysia, the Philippines and Uruguay. OECD chief Angel Gurria said in Paris that all four countries had now agreed to adopt its regulations.
General Assembly agrees on terms of UN summit on financial crisis
posted by fincrisis | Wed, 08/04/2009 - 14:23
The United Nations will convene a global summit in June to assess the impact of the world economic crisis on development, it was announced today, after the General Assembly agreed on the arrangements for the conference.
Ten principles for a Black Swan-proof world
posted by fincrisis | Wed, 08/04/2009 - 12:541. What is fragile should break early while it is still small. Nothing should ever become too big to fail. Evolution in economic life helps those with the maximum amount of hidden risks – and hence the most fragile – become the biggest.
G20 to agree trebling of IMF funding to $750bn
posted by fincrisis | Thu, 02/04/2009 - 14:06Around $750bn (£512bn) could be made available to help countries pull through the global recession as a result of a decision to treble IMF funding expected to be agreed at the G20 summit in London this afternoon.