BIS Urges Central Banks and Governments to Develop Exit Strategy.
The Mother of all Central Banks says in a report issued today:
- "it is so bloody complicated, no one understands what is going on" and
- "without a healthy banking system, forget about green shoots"
- "the result of the change in accounting rules is for the banks to put forward losses hoping in the meantime that the economic circumstances will improve"
- "too big to fail is too big to exists"
- "Banks and Governments: what is your exit strategy?"