Ex-Barclays chairman says banks should be allowed to take risks

Money On Hook

The former chairman of Barclays has warned that the British economy could be harmed if regulators continue to curb risk-taking in the banking industry.

The Daily Telegraph reports that Marcus Agius, who chaired the bank from 2007 until he stepped down in 2012, said that risk-taking is a 'necessary part of the equation' of banking, and that they should not be stopped from being 'the operators of the economy'.

In an interview with The Sunday Telegraph, Agius said that although lessons have been learnt since the financial crisis, he hopes that one of the core roles of banking is not overlooked.

'A lot of people get concerned about banks being risky and suggest therefore the situation must surely be to make the banks risk-free', he said. 'That’s a) not going to happen and b) it shouldn’t happen'.

To access the complete Daily Telegraph article hit the link below:

Ex-Barclays boss Agius: banks should have freedom to take risks

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