10 million new jobs at risk

The Institute of International Finance (IIF), that stands for 420 of the largest financial institutions in the world, announced yesterday that an overreaction of the banking regulation could lead to catastrophic sequences on the economic recovery, with perhaps a cost of 10 million jobs. This reaction is given on the national governments, who want to speed up the implementation of Basel III, an agreement that involves enormous savings for the banks. This would, according to the IIF, put at risk the lending to the real economy and by that losing job opportunities that normally would be created. Despite the efforts of the IIF, more and more organisations arise, who want the Basel III agreements to go through. (The Independent)

Lara Moons