Monday, December 21, 2009

Regulatory Failure is not an Option

Author: David Schwartz David Schwartz

European Central Bank: We have to succeed. At stake is not only the stability of one of the world’s largest financial systems, but also the support from the over 490 million citizens in the European Union who are watching our efforts very closely. We have counted very heavily on their support for the financial system, and they would not forgive us if we had to do so a second time. [1]

[1] Mr Jean-Claude Trichet, President of the European Central Bank, London, 11 December 2009