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Central banks as 'pawnbrokers'

A lot of effort goes into sustaining what Mervyn King calls the "alchemy" of modern monetary and banking systems in his latest book

Suyash Rai Business Standard
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THE END OF ALCHEMYMoney, Banking, and the Future of the Global EconomyMervyn KingW W Norton368 pages; $28.95Running or regulating a bank is not for the faint hearted. Banks raise most of their resourc
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First Published: Jul 05 2016 | 9:30 PM IST

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