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4min chapter
Martin Wolf on why banks fail and what to do about it
Behind the Money
How to Get Away From Mismatching Assets and Liabilities
Martin: We've got to get away from this whole business of mismatching the asset and liability side of our financial core institutions. He says a digital currency that's issued by a central bank, not private ones, would allow everybody to bank with it. Martin: Tight regulation will clearly make the financial system structurally sound. The debate is whether it would deprive the economy of credit supply on such a scale is to cripple it.
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