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1.Market Observations, 8.Was Sticky

7 June 2018 (AFR) – Why the Swiss vote on ‘Vollgeld’ is important to global banking

(7 June 2018, AFR, p25, by Martin Wolf)

Number of countries with banking crises in each year (Financial Times)

Number of countries with banking crises in each year (Financial Times)

‘A radical rethink of how the financial system works was, one might have thought, essential after the devastating crisis of a decade ago. Instead, the system was patched up. Now, predictably, the mood is shifting towards removing much of the regulation. That is why I hope, despite the polls, that the Swiss vote in favour of the Vollgeld proposal in the referendum on June 10. Finance needs change. For that, it needs experiments.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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