Draghi commentary: Global coordination is key to banking rules

07/29/2011 | Risk.net (subscription required)

Mario Draghi, incoming president of the European Central Bank, explains that the global financial crisis brought several lessons, including that financial systems are integrated. As regulators continue to consider and implement rules, Draghi urges them to resist pressure to water down regulations and to work together. "International consensus and co-ordination remain crucial in dealing with the challenges we have ahead of us to finalise the reform," Draghi writes.

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