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European Central Bank head argues in favor of global governance
- hga 17y agoThe Basil II regulatory monoculture had more than a little to do with the global nature of the Great Recession, so let's make financial regulation even more uniform and global!
- waterlesscloud 17y agoYeah, cause the Eurozone is working out so well.
- hga 17y agoYes, that points out the regulatory enforcement issue of this proposal. Eurozone countries are supposed to have much smaller annual deficits (3.6%?) than Greece has (or probably ever had in the relevant period). The ECB and company knew what was happening but turned a blind eye to it.