FRANKFURT (MNI) – The serious damage of the crisis cannot be
forgotten, even if the economy has improved, Swiss National Bank Board
member Thomas Jordan said Wednesday.
In remarks prepared for delivery in Bern, the central banker urged
leaders to summon the political will to implement measures to combat the
problem of “too big to fail” even in the face of resistance from banks.
Banks have seen that it is necessary to fight the too-big-to-fail
problem, however “they will attempt to resist far-reaching measures,” he
warned.
“Therefore, we need not only packages of measures, but rather,
above all, the political will to implement these,” he argued, adding
that there are also “chances associated with a fundamental reform of
banking regulation for our banking sector and Switzerland.”
“We cannot forget the serious damage of the crisis, even if the
condition of the economy improves,” he reminded.
–Frankfurt bureau; +49-69-720142; frankfurt@marketnews.com
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