Monday, June 28, 2010

G20 Flexibility

The low key G20 meeting in Canada produced a communique that took negotiators 45 hours to draft.

The final communique endorsed a flexible timeline for each country to build up higher levels of banking capital and liquidity.

The result may well be favourable to some countries. However, as the banks are now global players they will simply use this flexibility in their own interests and simply pick and choose their best options and best countries in which to operate from.

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