Stark demands financial sector refocus


Jürgen Stark, a member of the European Central Bank's (ECB) executive board, on Wednesday said the financial sector in advanced economies had grown too large and that banks must focus their business towards more traditional services in order to contribute to growth.

At the Transatlantic Business Conference in Frankfurt, Germany, Stark said it was tempting to assert that the recent financial crisis was the result of a financial sector that had "grown out of proportion". However, rather than the

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