European Union-wide authority to deal with failed banks needed says IMF chief; “Pretense of progress” not sufficient
Mar 22nd, 2010 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
European Union-wide authority to deal with failed banks is needed to strengthen the region’s post-crisis banking system, the head of the IMF, Dominique Strauss-Kahn said in a speech last Friday. He also said that "pretense of progress" but continuing business as usual is not sufficient.