スイスのダボスで開かれている世界経済会議では、国際通貨基金は、金融機関は、まだまだ でかすぎると批判
El FMI critica que el sector financiero siga siendo demasiado grande
El consejero delegado de JP Morgan defiende las reformas adoptadas por la banca
El Fondo advierte de que 2013 será peor para España que 2012
ALICIA GONZÁLEZ (ENVIADA ESPECIAL) Davos (Suiza) 23 ENE 2013 - 14:01 CET
IMF criticizes the financial sector is still too large
The CEO of JP Morgan defends the reforms adopted by banks
The Fund warns that 2013 will be worse for Spain 2012
Alicia Gonzalez (Special Envoy) Davos (Switzerland) 23 Jan 2013 - 14:01 CET
The first working day of the World Economic Forum (WEF, for its acronym in English) is usually dedicated to expectations, but this year seems to have changed the script. Subjected to intense criticism and battered by public opinion, the big banks wanted to be the first to launch his message from this huge public relations platform that Davos has become. And it has to justify its transparency efforts, reforms and the importance of the sector to the global recovery. "Financing is a critical part of how the economy works, people need someone to lend money," noted Jamie Dimon, chairman and CEO of JP Morgan. Dimon has been used as an example Italy and Spain. "It's very easy to say that there are risks but someone has to be behind the people and governments. If I had taken the advice of bank financing side of Italy and Spain, I would say maybe we should say no but we have between 60 and 100 years in these markets and we have a responsibility, "he argued.
But the International Monetary Fund (IMF) has exercised this time the role of bad cop and has claimed that many of the causes that led to the crisis remain unresolved. "Profitability is a key issue but not the only one. Before the crisis the sector was very large, too large, and it still is. There is a very important part of the financial transactions that remain opaque and complex products, "claimed Zhu Min, vice president of the IMF. Min recalled that the sector still accounts for 66% of GDP Mundia, "still too big", and warned against the recent increase in risk appetite among investors that, in his view, is a new threat to the global economy in the circumstances.
moreIIF Report: Money lost fear of riskThe Davos forum confidence improves, but does not approveThe Forum focuses on "overcoming the spirit of crisis"Read the news on Davos
The session has received Axel Weber, still riding in his speech between the central banker was (Bundesbank) and President of the Board of UBS is today, and one of the five co-chairs of this year's Davos Forum. Weber recalled the words of Mervyn King, governor of the Bank of England: "If it is too big to fail, is that it is too big" and pointed out that the problem is not regulation but that the different implementation of the same has been done in different countries, so it has called for measures for the sector overall. Most of those attending the debate, asked about it, he rejected further regulation to overcome the crisis. "No more, but better regulation" summed Dimon.
Weber, as a former European monetary hawk, has also put emphasis on the risks of the current monetary policy for the sector, once central banks start withdrawing stimulus current. "We are living at the expense of future generations", warned, while pointing out that you can not keep forever the measures taken by central banks to overcome the crisis. "They have reached a dimension absurd," he noted, "the central bank actions only serve to buy time but not to solve the problems. It is producing a very dangerous situation. "
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