3min chapter

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Worldview — the power of central banks

Engelsberg Ideas Podcasts

CHAPTER

The Lessons for Central Banks

When the banking system gets into difficulty, the central bank is drawn in because of its role as a lender of last resort. I think we've created this horrendous bureaucratic set of regulations, tens of thousands of pages and yet, banks will still fail. We haven't got to the final stepping stone yet for a sensible regulatory system," says Lord King.

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