BIS warns about delay to economic and banking overhaul

The Bank for International Settlements says governments have been allowed to delay reform of their banking systems and economies because of central banks' efforts to stabilize financial markets. "Central banks cannot do 'whatever it takes' to return still-sluggish economies to strong and sustainable growth," said Stephen Cecchetti, head economist at the BIS. "Central banks cannot do more without compounding the risks they have already created."

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