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Banks at Davos face protesters’ ire

World Economic ForumThe annual World Economic Forum came to an end on Sunday amid demands for bringing more transparency in the financial system.

A gathering of thousands of business and Government leaders in the Swiss Alps were of the view that a fragile recovery is in progress, but no consensus could be reached on how to prevent another global recession.

During the five-day meeting in Davos protesters continued distributing leaflets and pasting posters, showing their anger towards banker.

Morgan Stanley’s chairman in Europe, Donald Moore, said that banker had become as unpopular in Davos as terrorists in the past.

Bankers’ role in the recent financial slump and their conduct in its aftermath welcomed popular ire.

Prime Minister Gordon Brown recently suggested ‘Tobin tax’ on all financial transactions.

But, speaking on the issue, Deutsche Bank’s CEO Josef Ackermann said, "We should stop the blame game and we should start looking forward."

He further added that planned new taxes would damage the banking sector.