Tags: US | SKorea | Bank | Chief

Seoul Bank Chief: World Needs Financial Safety Net

Wednesday, 25 Aug 2010 03:30 PM

South Korea's central bank governor is urging creation of a global financial safety net to deal with future fast-spreading crises among intertwined economies.

Kim Choong-soo also said Wednesday in a speech hosted by The Korea Society that his country's economy can be a model for the world.

South Korea has shown remarkable resilience following the meltdown sparked by the 2008 collapse of the U.S. investment bank Lehman Brothers.

South Korea is hosting the next meeting of the Group of 20 major industrial nations in November.

Kim says a currency swap between countries' central banks could be used to create a safety net that could help ease the pain during future crises.

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South Korea's central bank governor is urging creation of a global financial safety net to deal with future fast-spreading crises among intertwined economies.Kim Choong-soo also said Wednesday in a speech hosted by The Korea Society that his country's economy can be a model...
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2010-30-25
Wednesday, 25 Aug 2010 03:30 PM
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