Mario Ploner, the managing director of Tecnomeccanica Biellese, says the ship-based system will use external booms running parallel with the vessel's sides to channel oil onto wool that has been spread over the surface of the sea.

ECONOMIST: Monitor

"To the extent that booms may engender excess leverage in systemically sensitive parts of our financial system, we need to ensure that regulations and institutional structures are designed to enhance market discipline in ways that keep risk-taking under control, " the official said.

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