It has become clearer what really happened this last March, during which “hundreds of billions of dollars in global wealth” allegedly vanished into thin air.
All around the world, experts got into heated discussions over whether this was just a series of isolated events or the prelude to a new worldwide financial crisis.īy now, the storm has calmed down. When is a crisis a crisis? The question resurfaced in March of this year after the global banking industry was thrown into turmoil again. Regulatory distortions exacerbate financial sector risks.Some European banks are still undercapitalized.The 2023 crisis has exposed unresolved banking vulnerabilities.
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