Banking on the IMF
The biggest financial nightmare looming over the world economy is the insolvency of a large international bank. To minimize the risk of an unruly collapse, an international resolution mechanism with authority over all major international financial institutions is needed – the IMF being the obvious candidate.
https://prosyn.org/lDWGxfI
CHICAGO – The biggest financial nightmare looming over the world economy is the insolvency of a large international bank. Be it because of a sovereign default or because of large losses accumulated under complacent accounting rules, the insolvency of a large bank (particularly a European bank) is far from a remote possibility. Even if it were a remote possibility, the 2008 financial crisis has taught us that rare events occur.