Monday, October 03, 2016

The EU Breaks Ranks With Basel 
& Will Not Implement New Rules
[We have said it before & we will say it again. There are good people working at the Central Banks. It is amazing how their wisdom never becomes policy]

Article highlights the stunning move by the European Union to not follow the Basel Switzerland Committee recommendations on credit, operational & market risk rules .. this committee sets the international standards for banks around the world .. the rules are designed to manage the risks of another financial crisis meltdown .. but now the EU is saying these rules are stifling economic growth by increasing the funds which banks must maintain (instead of loaning out to the economy) in case of unexpected losses from the risks ..
LINK HERE to the article

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