financial reform

Finacial Reform in Greece

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Speaking before Parliament’s plenary session, Finance Minister Evangelos Venizelos referred to the finance ministry’s draft bill stressing that “the scenery should change” and underlined that “this transitional period will have to be managed with prudence, professionalism, caution, consensus and a sense of responsibility.” “The months of August and September should be exemplary in terms of swiftness,” he said, responding to criticism by opposition parties regarding the procedures followed. “We are caught in an worldwide vortex and we have to utilise the opportunities created by us for us. We should be reliable as regards our obligations towards our lenders and meet … Read more

USA Regulators Punish Banks

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US regulators are straining to keep pace as they write more than 200 rules to rein in risk-taking throughout the financial system. A year after the enactment of the Dodd-Frank financial oversight law, regulatory agencies have finalized only a handful of reforms (50) but are expected to pick up the pace during 2-H of the year. Lobbyists and Wall Street executives, as part of their efforts to delay and scale back reforms, are raising pointed questions about whether Dodd-Frank will hamstring the economic recovery. A broad rollback of reforms is not expected, at least in the near-term. Here is a … Read more