"The key global challenge,also relevant to Canada, is to deal with heightened moral hazard stemming from the henceforth more explicit promise to rescue systemically important financial institutions. Strengthened and internationally co-ordinated regulation should be balanced by market mechanisms (such as contingent capital) that provide incentives to internalise risk. Canada’s banking efficiency, and hence economic productivity, would also benefit from greater contestability and a credible framework for winding down failed financial institutions. A move toward macro-prudential approaches to regulation is desirable, but policymakers should be mindful to maintain the important role of financial intermediation."
I don't think I should need a dictionary to read the only language I speak. Actually, I'm pretty sure they made up some of those words (and Google spellcheck agrees with me). Macro-prudential? Contestability? Seriously, who speaks like that?
Goddammed OECD. They should be stopped. Don't even get me started on the part where they recommend that Canada should implement user-fees for healthcare services. I can feel my blood pressure rising. Someone should do a study of the impact of OECD Reports on rising healthcare costs. I'm certainly gonna bill them for my aneurysm.