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Fricke: “Man Needs Relatively Little Bank”

People ♦ Published: April 15, 2014; 09:34 ♦ (Vindobona)

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Fricke, chief economist at the European Climate Foundation and author of “Wie viel Bank braucht der Mensch?" (How much bank does man need?)

According to Fricke, a financial transaction tax should be introduced to reduce dynamics on the financial markets. / Picture: © Vindobona.org

In an interview with Austrian daily “Standard” former chief economist of Financial Times Germany Thomas Fricke explained “how much bank” is really required. According to the economist, “relatively little bank” is needed. “We could very well live in a world in which banks do what they used to do: take deposits, grant loans and make sure the economy is…