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IMF Boss Wants Global Banking Regulations

Posted By admin On January 29, 2010 @ 4:28 pm In World News | Comments Disabled

MARCUS WALKER and STEPHEN FIDLER
The Wall Street Journal
January 29, 2010

[efoods]DAVOS, Switzerland—The head of the International Monetary Fund warned the U.S. and European countries against launching separate initiatives to beef up the regulation of banks, urging governments to pursue multilateral agreements instead.

“I’m worried about the possible inconsistency of different countries’ proposals,” IMF managing director Dominique Strauss-Kahn said in an interview at the World Economic Forum meeting in Davos.

He also repeated his call for countries to keep up their economic-stimulus measures, saying a premature end to support for a fragile economic recovery presents a graver risk than reining in budget deficits slightly later than necessary.

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