Basel III, the Devil and Global Banking

Monal Abdel-Baki () and Mina Shoukry ()

European Journal of Law and Economics, 2013, vol. 36, issue 1, 227-230

Abstract: The 2008 financial crisis started on Wall Street, but rapidly spread to the entire world. The response of the G20, international regulators and central bankers was the design and issuance of a new set of regulatory capital, liquidity and corporate governance standards—known as Basel III. As much as Basel III has gained the support of depositors and politicians, it has triggered a wave of stern opposition from bankers. In his widely distributed book—Basel III, the Devil and Global Banking—Dimitris Chorafas includes a detailed analysis of the concerns and anticipations of bankers, domestic supervisory agents and global regulators. This book review gives an appraisal of the book. Other than stressing the need for a total cultural transformation, embracing the ethos of risk management, Chorafas introduces a comprehensive restructuring program including efficient fiscal and monetary policies, enhanced governance procedures, improved risk management practices and the total separation between monetary authorities and politicians. Copyright Springer Science+Business Media New York 2013

Keywords: Global banking regulation; Basel III; G18; E58 (search for similar items in EconPapers)
Date: 2013
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1007/s10657-013-9401-4 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:ejlwec:v:36:y:2013:i:1:p:227-230

Ordering information: This journal article can be ordered from
http://www.springer.com/journal/10657

DOI: 10.1007/s10657-013-9401-4

Access Statistics for this article

European Journal of Law and Economics is currently edited by Jürgen Georg Backhaus, Giovanni B. Ramello and Alain Marciano

More articles in European Journal of Law and Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().