IMF Chief Says Banks Haven't Changed Since Financial Crisis

Christine Lagarde, the managing director of the IMF, presents her address to the Inclusive Capitalism Conference. Photograph: John Stillwell/AP

Christine Lagarde tells London conference banking sector is still resisting reform and taking excessive risks

theguardian.com - by Angela Monaghan - May 27, 2014

The head of the International Monetary Fund has warned that a persistent violation of ethics among bankers and rising inequality pose a major threat to growth and financial stability.

Christine Lagarde told an audience in London that six years on from the deep financial crisis that engulfed the global economy, banks were resisting reform and still too focused on excessive risk taking to secure their bonuses at the expense of public trust.

She said: "The behaviour of the financial sector has not changed fundamentally in a number of dimensions since the crisis.

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