ECB's Weber defends Basel III capital rules

11/15/2010 | Wall Street Journal, The · Reuters

Axel Weber, a member of the Governing Council of the European Central Bank, said the Basel III rules on capital "won't significantly hamper" growth or result in a credit crunch. Weber, who is also president of the Bundesbank in Germany, said the rules need to be "quickly translated into national law." Weber also reiterated that major banks must be able to fail.

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Wall Street Journal, The · Reuters

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