One of the spokesperson from the German government today said that it is a must that the government from the leading economies of the G20 nations ramp up their efforts towards strengthening the regulations of the financial market.
Talking about the regulation of the financial market, Steffen Seibert, stated:
“We're not yet there where we want to be”.
Seibert also added that removing the G20 group would slow down the “progress on the issue”, in fact it would not have covered so much ground in the first place. This year, Germany is at the helm of these G20 nations as the president, whereby the “Chancellor Angela Merkel” seeks to utilise the said platform for safeguarding “multilateral cooperation” following the U.S. President, Donald Trump’s policies of “America first”, while the latter has “questioned international alliances and obligations” in the process.
Furthermore, President Trump has issued orders for reviewing “major banking rules” that have been functional since the “financial crisis”. According to reuters:
“German Finance Minister Wolfgang Schaeuble said earlier this month he would try to dissuade his U.S. counterpart Steven Mnuchin from deregulating the financial markets”.
References:
http://www.reuters.com
Talking about the regulation of the financial market, Steffen Seibert, stated:
“We're not yet there where we want to be”.
Seibert also added that removing the G20 group would slow down the “progress on the issue”, in fact it would not have covered so much ground in the first place. This year, Germany is at the helm of these G20 nations as the president, whereby the “Chancellor Angela Merkel” seeks to utilise the said platform for safeguarding “multilateral cooperation” following the U.S. President, Donald Trump’s policies of “America first”, while the latter has “questioned international alliances and obligations” in the process.
Furthermore, President Trump has issued orders for reviewing “major banking rules” that have been functional since the “financial crisis”. According to reuters:
“German Finance Minister Wolfgang Schaeuble said earlier this month he would try to dissuade his U.S. counterpart Steven Mnuchin from deregulating the financial markets”.
References:
http://www.reuters.com