BIS urges governments to rethink strategies to avoid crises

June 30, 2014 5:47 am

Switzerland-based Bank for International Settlements (BIS) has said countries must dramatically rethink strategies for avoiding and dealing with financial crises, urging far more focus on fighting debt, Reuters has reported. If governments fail to make the necessary policy adjustments to ward off similar crises and crashes, “the global economy may be set on an unsustainable path,” BIS said, warning that “at some point, the current open global trade and financial order could be seriously threatened.”