The European Central Bank warned last year that increased competition between banks following monetary union might force some into high-risk strategies, which it defined as those of "the rather short-term oriented shareholder value philosophy". As a reflection of the still strong public resistance in many parts of the continent to what is seen as Anglo-Saxon short-termism, the ECB's statement is perhaps unsurprising...more
The European Central Bank warned last year that increased competition between banks following monetary union might force some into high-risk strategies, which it defined as those of "the rather short-term oriented shareholder value philosophy". As a reflection of the still strong public resistance in many parts of the continent to what is seen as Anglo-Saxon short-termism, the ECB's statement is perhaps unsurprising...
