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Women losing coverage under Obamacare, too
Topic - Adam Posen
The Group of 20 meetings in Moscow this week offer the world's industrial powers an opportunity to push for better coordination of global financial regulations that give banks clear guidelines to follow, the new chief of the Washington-based Peterson Institute for International Economics said in an interview Tuesday.
The world's major economies are in a dangerous race to impose austerity policies that could spill over into another global recession, the new head of one of Washington's most influential think tanks on the economy warned Wednesday.
Mr. Posen said that while the eurozone's currency problems show no immediate signs of getting better, things may have to get a lot worse before there is a real political or social incentive to change course.
International regulators "need a procedure in place so that banks believe they will actually shut them down," he said.