Business

World Globalization of The Banking & Regulatory Structure

By Joan Veon / NewsWithViews.com
BASEL, SWITZERLAND -- The power base of the world has shifted…it is no longer in London, New York City, Washington D. C., or Tokyo. Neither is it in Beijing or Moscow. It is Basel, Switzerland. In 1930, the Bank for International Settlements-BIS was set up as a result of the Young Plan which was named after the man who presided over the Allied Reparation Committee, Owen D Young. Basel was chosen as its location because everyone could get on a train from anywhere in Europe to attend its meetings. When you walk out of the main train station, the BIS is within easy walking distance of one block.
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Posted by Editor at June 29, 2009 07:12 AM