Turkey's Yilmaz in call for global LoLR
The most important lesson from the current financial turmoil is the need for a global lender of last resort, said Durmus Yilmaz, the governor of the Central Bank of Turkey.
Yilmaz also said that sound domestic policies for a healthy banking sector are necessary but not sufficient for addressing challenges in the global world.
The governor also called for a new global financial architecture where the direct relationship between lender and borrower was not cut completely as a result of effective
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