And in the event of a financial emergency a currency board has less freedom than a central bank to act as lender of last resort, because the board cannot boost the money supply to aid troubled banks.
Hong Kong entertainment czar Allan Zeman, whose advice and contacts in the Hong Kong business world helped casino magnate Steve Wynn open the posh Wynn Macau resort in 2006, has resigned from the board of Wynn Resorts this month.