End of systemic importance. The days of guaranteed salvation for large banks is set to expire. The G-20 member states want to regulate a development of the financial houses.
The G-20 countries aggravate the debt crisis amid the pressure on banks and financial markets. Should be adopted at the G-20 summit in Cannes, new international standards, such as banks could be settled next to a stricter supervision, reported the "mirror", referring to the draft summit communique.
Financial institutions would no longer be too big for a bust. Federal Finance Minister Wolfgang Schauble (CDU) threatened the banks with sanctions, should they refuse to cut debt planned for Greece. The outgoing ECB President Jean-Claude Trichet warned in the newspaper "Bild am Sonntag", ". The crisis is not over".
As the "mirror", reported the group wants the major industrial and emerging countries (G 20) at their meeting on 3 and 4 November bold steps to reform the financial sector in order. Accordingly, banks should be forced to expel much more capital than previously. Should also excessively high salaries and bonus payments be no more.
Financial institutions would no longer be too big for a bust. Federal Finance Minister Wolfgang Schauble (CDU) threatened the banks with sanctions, should they refuse to cut debt planned for Greece. The outgoing ECB President Jean-Claude Trichet warned in the newspaper "Bild am Sonntag", ". The crisis is not over".
As the "mirror", reported the group wants the major industrial and emerging countries (G 20) at their meeting on 3 and 4 November bold steps to reform the financial sector in order. Accordingly, banks should be forced to expel much more capital than previously. Should also excessively high salaries and bonus payments be no more.
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