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PPI Claim News - 1/2/2010

Bank Charges: Davos banking forum spawns 'few achievements'

The economic forums held in Davos last week have produced "few plans or real achievements", analysts claim.

In a week that saw plenty of "banker bashing" there are little signs of reform and regulations likely to alter the financial industries, according to BBC business editor Tim Weber.

While many issues were brought up for discussion, not many became the subject of any particular clarity.

"The lack of results [from] the discussions at this year's forum are arguably a perfect reflection of the general uncertainty that has gripped most political and business leaders here in Davos," writes Mr Weber.

While some bankers did show signs of bowing to public pressure to curb excessive bonuses schemes, there were no clear proposals on how such regulation would be implemented.

One reason for the less than significant result, says Mr Weber, was that the annual forum was poorly attended by "key politicians".

It was widely hoped that the Davos forum would cement reforms for the banking system in a bid to boost the UK's economic recovery.

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