‘TOO BIG TO FAIL MEANS TOO DANGEROUS TO EXIST’ – GREEN EURO-MP AT CITY BANKING DEBATE WITH HSBC BOSS

LEADING banker Douglas Flint, Chairman of HSBC Holdings has argued that large multinational banks play a key role in avoiding financial collapse at a City debate on the future of EU banking regulation hosted by London’s Green MEP, Jean Lambert.

He said those countries hardest hit by the economic crisis of 2008 – such as Ireland and Spain – had a large number of smaller banks.

But Belgian Green MEP Philippe Lamberts argued that, on the contrary, banks that are ‘too big to fail’ are undemocratic and ‘too dangerous to exist’. Continue reading