US Treasury Secretary Warns European Bank Fund Not Sufficient

January 17, 2014 Share Print 0

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.

via CNBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.