World financial system in state of dysfunction: RBC’s Nixon
Canada’s leading bankers speak here about the state of the worlds financial markets and the banks who operate them. The general theme is lack of stability and pricing of the markets. I think its safe to assume that consumers can read pricing problems to mean higher charges or interest rates for them.
World financial system in state of dysfunction: RBC’s Nixon | Globe and Mail
CALGARY — The global financial system has been “pushed to the brink” in its most severe downturn since the Great Depression, although the actions of American policy makers have averted disaster, the head of Canada’s largest bank said Friday
“Not since the (Second World War) has the financial system itself been in such a state of dysfunction,” said Royal Bank chief executive Gordon Nixon told a roundtable of prominent business leaders.
It begs the question of what changes we might expect to see. Any thoughts?
