King
urges fundamental banking reform - 20 October
A fundamental rethink of how the banking sector is structured and
regulated is needed to prevent a recurrence of the financial
crisis, Bank of England Governor Mervyn King said on Tuesday.
Speaking in Edinburgh, home of credit crunch casualties RBS and
HBOS, King said there was a strong case for not allowing banks to
become so large they cannot not be allowed to fail. - Business
Report website
SA
urges urgent reform of global financial institutions - 21
October
South Africa has reiterated its call for a better representivity
of developing countries, especially Africa on global financial
bodies. "The transformation we are calling for is likely to
improve the financial and economic conditions of developing
countries," Deputy President Kgalema Motlanthe told MPs
during his response to Parliamentary questions on Wednesday. He
said the transformation referred directly to the World Bank Group
and the International Monetary Fund, known as Bretton Woods'
institutions. The developing world has also been calling for
urgent reform of these institutions, including their mandate,
scope, governance and responsiveness. - Buanews
Online website