F4 - alliance capable to protect the banking system
Switzerland, well-known for its chocolate, cheese and banks offered to create a new alliance in order to protect financial interests to several countries - other market participants. This proposal was received by the United Kingdom, as well as the "East Asian Tigers" - Singapore and Hong Kong.
The main task of the new joint is an extension of the requirements in the sphere of bank standartization and unification of the European market and defending its interests in relationships with other countries. Alliance states are going to conduct joint dialogue and strengthen its role in modern banking.
Financial specialists has already named the established association "The Financial Quartet". It is expected to have success in all it's endeavors.
Modern world economics ignore the small participants and works within the interests of big players like EU. They make the financial structures operation hard by disclaiming any responsibility for the problems that arise and taking only advantages instead.
Too much united international players' interference provokes the emergence of various differences between individual countries, one of which led to the so called BrExit. The local economics of countries also suffer problems.
Most regulators remain deaf to the problems of the industry. Switzerland is tired of waiting for system normalization and made the first step towards the creation of a strong economic "fist", capable of destroying obstacles. Invited countries play a significant role in the global economy and will become a driving force for the promotion of relevant solutions.
What for the participant countries need this?
Creating a new economic alliance will help to activate counteraction to the existing system of relations in Europe and the world. Modern officials are not influenced by empty requests, they rather understand the rigid pressure.
Today's European banking sector is much like an image from comics - it looks like a man trying to make a step with his foot in bandages without crunches. Officials have created a lot of obstacles for the normal operation of banks. Any financial institutes actions have to be performed on their own, otherwise they can be penalized. Furthermore, the USA maintains the existing things order.
Creating a new fiscal union is likely to become the solution of some urgent topics for G4 countries. This association will allow both to defend their own interests in these countries, and social benefits for the financial world. They are able to offer competent and correct decisions, ability to raise banks of the knees. As a result, the client is assured to take a benefit.
Why is the EU against?
There is another thing, especially important for understanding the processes in the EU. A large European Union countries working under its own rules different of global. However it is not a problem itself. The EU is trying to spread his vision of the situation on other continents, and has succeeded in this. Europeans have been able to impose their will on Singapore and Hong Kong. Switzerland has been yet able to survive in this struggle. It is well adapted and manages to play on multiple fields simultaneously. It's positive experience can be shared with others.
The United Kingdom is leaving the EU soon. This may complicate the access of island banks to the continental system. The problem is more aggravated by the fact that the majority of financial players used to introduct their presence in Europe through London.
The EU by contrast evaluate these states as opponents in the economic struggle. They are not going to sthrengthen their competitors from abroad. This policy is becoming an obstacle to the free development of the market, it degrades the quality of services, reduces competition, hinders entrepreneurship and investment. The Alliance will attempt to become a hummer for punching holes in the current system.
What will the alliance bring to ordinary men?
The emergence of new major financial player can influence the life of the people, because most of us use bank services. The positive effect may lead to the rates for services in credit institutions reduction. Another important thing is possible impeding the negative interest rates of deposits already introduced by many banks. However it may lead to bank institutions influence and neglecting the clients needs. This thing may become one of the negative effects of F4 operation.