The global banking system's in turmoil. The collapse of Silicon Valley Bank & last minute rescue of Credit Suisse call for a timely EU transposition of global banking standards.
We must keep regulatory standards high!
@EP_Economics live now: https://multimedia.europarl.europa.eu/en/webstreaming/econ-committee-meeting_20230321-1430-COMMITTEE-ECON
🐦🔗: https://n.respublicae.eu/TheProgressives/status/1638204183860895744
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Debating the turmoil in the global banking system, @paultang points out the risk of bank runs due to lack of insurance of deposits above €100.000.
Uninsured deposits triggered problems at both Silicon Valley Bank and Credit Suisse.
Europe should avoid this!
🐦🔗: https://n.respublicae.eu/TheProgressives/status/1638218174649843712
Increasingly home-grown inflation requiring high interest rates has consequences for financial stability, which has been overlooked so far.
Important question here is to what extent we need to discuss strengthening of regulation.
@profMarekBelka on banking turmoil.
🐦🔗: https://n.respublicae.eu/TheProgressives/status/1638226205705904137