Barclays chief defends big banking

The chief executive of Barclays, John Varley, has defended the role of big banks in the global financial system.

But he conceded that many banks were currently "too big to fail" - a feature that would have to change.
Reform to the system should ensure that taxpayers would never again be asked to bail out any bank, Varley added.

"We should be able to say to taxpayers - 'you should not have to do that again'," he said.

Editor's Comment
Gov’t must rectify recognition of Khama as Kgosi

While it is widely acknowledged that Khama holds the title of Kgosi, the government’s failure to properly gazette his recognition has raised serious concerns about adherence to legal procedures and the credibility of traditional leadership. (See a story elsewhere in this newspaper.) Recent court documents by the Minister for Local Government and Rural Development, Kgotla Autlwetse, shed light on the intricacies of Khama’s recognition process....

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