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What the world's big guns say about the meltdown
October 17, 2008
The UK's banks are well-capitalised and well run. That said, business is global, and the current economic downturn is a global phenomenon: Angela Knight, chair, British Bankers Association
We can work together to strengthen the global regulatory environment, recognizing that failure to make the right changes now would lead to years of uncertainty, doubt and missed opportunities for banks and their customers alike: Angela Knight, chair, British Bankers Association
History teaches that crisis spells opportunity for long-term equity investors: Barton Biggs, Wall Street strategist
In all probability the world economy is slipping towards 2 percent real GDP growth, which is technically a recession: Barton Biggs, Wall Street strategist
It is now becoming clear that emerging market countries are likely to be hit hard by financial turmoil, despite stronger fundamentals and policy frameworks. Lest a sudden stop of capital bring their progress to a sudden halt or, worse, bring down their financial systems, some form of large and rapid financing should be kept ready. There should be no doubt that the fund is prepared to deploy its emergency procedures: Dominique Strauss-Kahn, head, IMF
Contrary to popular belief, so far this hasn't really been a banking crisis. The institutions that have gotten into trouble handle a broad range of financial instruments. Real banks, in this sense, are the sinews of the economy. If they become affected, then we'll find ourselves in an even more serious stage of the crisis. Then the economy as a whole could begin to seize up: Heizo Takenaka, former Japanese minister of economic and fiscal policy
Image: Former Japanese Minister of Economic and Fiscal Policy Heizo Takenaka. | Photograph: Toru Yamanaka/AFP/Getty Images
Also read: US crisis: Boom time for law BPOs in India
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