Greenspan says international rules reflect cultural differences

The differences are more cultural than economic, Greenspan said in remarks on international financial risk management to a Washington meeting of the Council on Foreign Relations, the independent US foreign policy think-tank.

He said improvements in domestic bank supervision and regulation, continued co-operation among financial authorities and, if necessary, central banks acting as lenders of last resort can contain the inevitable rise in potential systemic risks posed by the inexorable

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