A secondary benefit is said to be "creating appropriate disincentives for transactions that do not enhance the efficiency of financial markets, thereby complementing regulatory measures to avoid future crises".
To avoid future crises, he advocates taxing companies' foreign-currency borrowing.Little of this is new.
On the threshold of 2013, the debate is more about how long it will take for the euro zone economy to recover and what must be changed to avoid future crises.
Two top E.U. finance officials gave a push forward to efforts to overhaul governance of the region's banks, easing concerns that the bloc is failing to move swiftly enough to avoid future crises that could sink the euro.
And why we're not likely to avoid future crises with a little fiddling of the regulations, but only by exerting broader control over the leverage that we allow to develop.
The Bank for International Settlements, which provides a platform for transactions among more than 50 central banks as well as a forum for debate, has been at the forefront of calls for new rules to restrain risky practices by banks and avoid future crises.
Self-sufficiency would also lock in patterns of agricultural production just when climate change is affecting different parts of the world differently, making trade between them all the more important.The food-price trauma of 2007-08 is persuading some countries to say that they need to divert part of their wealth to subsidise food so they can be self-sufficient and avoid future crises.
Being honest will avoid future crisis because the truth always comes out eventually.
