"I agree with Mervyn King today that the job of making our banks safe and responsible is not yet complete, " he told delegates at the Scottish Liberal Democrat spring conference in Perth.

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What's more, he brings with him the ability to seriously influence the future all-important global debate on making the banks safe, because he is the chair of the Financial Stability Board - the senior worldwide financial regulatory body.

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This trend has remained intact despite central banks around the world doing all they can to incentive risk taking by making traditionally safe assets, such as cash and bonds, as unappealing as possible.

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