Jack Lew: Bigger and faster EU Bank Failure Fund Needed

The United States is concerned that Europe is not moving decisively to heal its banks and that China will only slowly move toward a more market-based economy, Treasury Secretary Jack Lew said Thursday.

Lew said a deal struck in Europe last month to create a fund over the coming decade for dealing with future bank failures was important, but inadequate.

"We don't think it's big enough. We don't think it's fast enough," Lew said at an event held by the Council on Foreign Relations.

CNBC

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Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu