ECB’s Weidmann: Govts cannot completely prevent a repeat of events like the 2008 global financial crisis

Reuters reports the key comments delivered by the European Central Bank (ECB) Vice-President and Bundesbank Chief Jens Weidmann over the weekend on financial crises, in an interview with Germany’s Bild newspaper.

• Governments cannot completely prevent a repeat of events like the 2008 global financial crisis (GFC).
• German banks were not only victims of the 2008 financial crisis, but many institutions had also taken on more risk than they could ultimately carry.
• Regulations had been tightened since then, but it would be “an illusion” to think that governments could completely avert such crises.