Related Articles
Top Stories
May 23 2012 09:47
Western investors must realise SA does not need their money as it can now turn to fellow Brics members for funding, says ANC secretary general Gwede Mantashe.
May 23 2012 18:03
Facebook and banks are being sued by Facebook's shareholders, who claimed the defendants hid Facebook's weakened growth forecasts ahead of its initial public offering.
May 23 2012 08:10
Several parties, including government, have launched a Constitutional Court appeal against an interdict temporarily halting the e-toll project, Outa says.
Basel, Switzerland - The Financial Stability Board said Saturday the situation in the financial sector had improved but remained still very fragile.
"The situation is much better than one year ago," said Mario Draghi, governor of the Italian central bank and chairperson of the FSB, a global watchdog made up of senior representatives of national financial authorities.
"It's improving, but it has many fragilities," he added at a news conference at Bank for International Settlements headquarters.
The Financial Stability Board which is working on a number of steps to strengthen the banking system and avert another financial crisis will present its preliminary conclusions to Group of 20 nations in June, Draghi said.
The G-20 group of major economies was established in 1999 to bring together systemically important industrialized and developing economies to discuss key issues in the global economy.
- AFP