Changing of the guard
Raiffeisen stresses commitment to CEE
Mervyn King has not had the best of times. His critics have attacked him for his slow response to the banking and economic crisis that has struck the UK. But the governor of the Bank of England has made one of the more telling remarks of this crisis. He observed in the aftermath of Lehman Brothers’ bankruptcy and the failures of Iceland’s lenders that many banks today are “global in life but national in death”.
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