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Bankers clash over new regulations

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Bankers clash over new regulations


The global push for tougher financial regulation has come under the spotlight at the World Economic Forum.

Top US and European bankers have held behind-the-scenes talks, but they are said to be at odds on strategy.

Some say it is time to stop the blame game over the financial crisis.

Andrei Kostin of VTB bank said: “We would definitely like to see constructive dialogue – what we have in Russia, for example, with the Russian government … trying to find ways to provide economic growth, rather than trying to blame each other. I think that is a way which will lead nowhere.”

Some 2,500 people are taking part in the annual five day meeting in Davos in Switzerland.

They include chief executives, national and regional government officials, as well as the leaders of NGOs and unions.

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