The jury is still out on whether these major schemes have created additional financial flows for development. For many Caribbean countries, remittances have become an important and promising source of non-traditional external financing. In fact, the Caribbean is among the larger recipient of remittances in proportion to its GDP.
Do we make banking boring when banks can no longer benefit from an implicit state guarantee? Do we make banking boring when large banks can no longer rely on the tax payer stepping in when losses pile up? I don’t think that a functioning resolution system makes banking boring.