Italy's Visco pushes for global cooperation

- Central Banking staff
- 16 Nov 2007

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Global cooperation and coordination are the only ways to deal with systemic events that have the potential to wreck the global financial system, says Ignazio Visco, the chief economist at the Bank of Italy.

Speaking in Berlin, Visco said: "Cooperation to secure a level playing field and to reduce the scope for competition in laxity is required."

He added that institutional and retail investors should be made aware of the new set of risks they are facing, in order to make informed decisions.

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