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Mark Carney in Washington D.C. : ’Bail-in as a component of addressing systemic risk is an absolutely necessary element.’
21 April 2013
(CRC)—Mark Carney was interviewed on April 18 at the National Press Club, in Washington, D.C., by Thomson Reuters Digital editor Chrystia Freeland. In her write up article the following day for the Globe & Mail Freeland gives a partial quote from the central banker’s answer to her question on the recent Cyprus bail-in. Freeland writes “…the recent crisis in Cyprus gave a messy preview of how that resolution might work. Mr. Carney hopes global guidelines will make future resolutions cleaner and more predictable. Part of that game plan, he believes, should include the “bail-ins” seen in Cyprus. Carney’s answer “…Bail-in broadly speaking. Not bail-in as it was performed a couple of weeks ago in Cyprus, but bail-in as a component of addressing systemic risk is an absolutely necessary element; it doesn’t solve everything but it’s absolutely necessary.” The section of the Carney video interview that has the question and answer on the bail-in starts at 32min.26 sec. (indicated on the timeline as the minutes left to the interview) and ends at 27min.16 [GG] See the full [59:21] video interview at: http://uk.reuters.com/article/video/idUKBRE93H0V220130419?videoId=242341354 |