Hellwig and Wolf question efficacy of financial reforms

Bank Recovery and Resolution Directive questioned

Financial reforms have resulted in "little effective change" in the areas of bank equity and bank liquidity, according to Martin Hellwig, director of the Max Planck Institute for Research on Collective Goods.

The second edition of Country and Political Risk, published earlier this month, opens with a conversation on the bank-sovereign linkage between editor Sam Wilkin, Martin Hellwig and Financial Times chief economic commentator Martin Wolf.

Both Hellwig and Wolf are sceptical about the ability

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