Debate is raging domestically about the motives behind the resurfacing of the so-called Bankorp/Absa ‘lifeboat’ saga, which dates bank to the dying days of apartheid when the South Africa Reserve Bank governor at the time, Dr Chris Stals, extended unlawful support to Bankorp, which was then acquired by Absa. However, the debate also comes at a time when the risks to global political, environmental and economic stability are threatening the fragile ‘lifeboat’ that the international community has been using to survive the post-Great Recession era.
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