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Submitted by Per Kurowski on
First, you do no harm! That small and medium enterprises should cause higher capital requirements for the banks than those big established entities who having already been favored by the markets having been able to get good credit ratings, is the purest expression of development policies having totally lost its connection to realities. Not only is it crazy as risk is the oxygen of development but it also caused the current crisis by helping to channel too much capital into supposedly risk-free AAA havens. When is the World Bank to free itself from having to harmonize with the “stability agenda” of the IMF, the Basel Committee and the Financial Stability Board? Only then can it become a development bank again.