Fixing the banks is not enough – Adair Turner
Real damage from financial crisis is caused by lack of credit demand, former FSA chief says
Even a robust banking sector will not be enough to avoid the severe costs of a fresh financial crisis, economist Adair Turner warned on September 28.
The former head of the UK’s now-defunct Financial Services Authority told a conference organised by the Bank of England that although he believed post-2008 reforms had reduced the likelihood of a major financial crisis and made the system more resilient, existing tools fail to adequately address the question of credit creation.
Analysis of the
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