The proposed new Basle standards acknowledge that the existing rules (announced in 1988) are too crude.

ECONOMIST: Economics focus

At a conference of academics, bankers and officials in New York this week, a consensus emerged that the Basle approach is fundamentally flawed.

ECONOMIST: Economics focus

Bernie Fraser, a former governor of the Reserve Bank of Australia, has even proposed creating a new regional central bank for central bankers, rather like the Bank for International Settlements in Basle.

ECONOMIST: Next: AMU?