ECB's Bini Smaghi on financial globalisation

In the speech 'Financial globalisation and integration: What's next? A forward-looking perspective' given on 18 July Lorenzo Bini Smaghi of the ECB said economic and financial imbalances between the main economic regions of the world continue to widen and are hardly sustainable over time.

"It is clear that the recent trend of increasing current account imbalances cannot persist indefinitely," Bini Smaghi said in his speech.

Against this background, the case for an economic policy adjustment

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