Why Basel III will not prevent the next crisis

Liberian nurses disinfecting the body of a suspected Ebola victim at the entrance of the Medicins Sans Frontiers Ebola treatment center in Monrovia, Liberia recently. Ukraine, Ebola and IS are not directly connected with banking, but they will have huge impact on banks because they can disrupt real activities. - EPA

THIS week I was in Tianjin attending the 18th International Conference of Banking Supervisors, the annual gathering of the world’s top bank regulators to review the progress of implementation of Basel III, the new rules that were established in the aftermath of the Global Financial Crisis of 2007/2009.

What progress have we achieved in solving the worst crisis the world has suffered since the Second World War? Can we prevent the next crisis?