Powerful banks should give up resistance to banking union, Digital currency and the new cold war

by admin July 24, 2020

July 24, 2020 225 views

Powerful banks should give up resistance to banking union, Digital currency and the new cold war

THE WEEKEND REVIEW – OMFIF

Latest opinion and analysis from OMFIF around the world

20-24 July 2020, Vol.11 Ed.28

Powerful banks should give up resistance to banking union Germany’s auditing regulator is investigating financial watchdog BaFin for failure to act over now-bankrupt Wirecard. Regulatory shortcomings are one factor behind repeated setbacks among Germany’s fragmented and unprofitable banks. Germany’s powerful public sector banks should end their resistance to European banking union and create institutions of scale. Otherwise more problems will ensue. Not only Germany but the whole of Europe would be the loser, write John Orchard and David Marsh.

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Commentary

Trump the culture warrior divides not heals: Donald Trump’s incompetent coronavirus response appears to be driving him to defeat in the 3 November presidential election. Shortcomings in crisis management, including his heavy-handed handling of social protests, are turning voters’ sentiment towards Democrat Joe Biden. Trump’s frequently apocalyptic tones, echoing his bleak January 2017 inauguration address, have laid bare a double deficit: no positive message for the next four years – and no thriving economy to back him up.

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Podcast

Digital currency and the new cold war: David Birch, author and adviser on digital currencies, joins Phil Middleton, chairman of the Digital Monetary Institute, to discuss David’s book, The Currency Cold War: Cash and Cryptography, Hash Rates and Hegemony. Their far-reaching conversation covers the central bank digital currency landscape, private currencies, and whether crime rates can really be demolished in this new era of digital currencies. Further topics include the regeneration of interbank settlement and the restructuring of financial markets, both domestically and internationally.

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Commentary

Learning from the project finance leaders: Project finance in Asia has traditionally been a costly and bespoke process. Infrastructure debt is less tradeable, contributing to the Asian infrastructure financing gap. The situation is changing. With 60% of project finance loans in southeast Asia originated by banks in Singapore, the county is leading an initiative to standardise loan documentation. Learning from practices in the global project finance leaders, the US, Australia and the UK, leads to streamlined processes attracting more investors with varying risk appetites.

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Podcast

The OMFIF/KPMG series: Sustainable infrastructure and the green transition: In the second edition of the OMFIF-KPMG Asia podcast series, Jingdong Hua, vice-president and treasurer of the World Bank Group, joins KPMG’s Mina Sekiguchi and OMFIF’s Kat Usita to discuss sustainable infrastructure and the pandemic’s impact on the green transition. What role will infrastructure play in the ‘green recovery’? What are the challenges in the green energy transition? How can infrastructure development support climate resilience and other sustainability goals? In the midst of Covid-19 disruption, how can we ensure a sustainable digital environment?

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Joint statement: European employers are committed to create the conditions for return to employment, job creation and better skills matching as part of the recovery

Powerful banks should give up resistance to banking union, Digital currency and the new cold war

Latest opinion and analysis from OMFIF around the world

Commentary

Podcast

Commentary

Podcast

Joint statement: European employers are committed to create the conditions for return to employment, job creation and better skills matching as part of the recovery

40 images of the Hagia Sophia

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