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Bank of England governor, worried about financial reform fatigue globally
9 February 2015, 09:40
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On Monday Bank of England Governor Mark Carney said that he was worried about financial reform fatigue globally. The announcement came on the eve of a meeting of G20 finance ministers and central bankers.
"I worry about reform
fatigue, not surprisingly, both at the FSB (Financial Stability Board)
and more generally," Carney said at an Institute of International
Finance meeting.
"Many of the toughest reforms are micro reforms
that can have big political coalitions against them and have payoff
very far into the future," he said, quoted by Reuters.
Although the financial system was less likely to amplify initial shocks
than in 2008, there was no room for complacency about its resilience, the governor said.