Charles Dallara Quotes
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The Greek people deserve an economy that is not burdened forever by a heavy bureaucracy and a bloated public sector.
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We remain open to explore options on a voluntary approach built on a realistic outlook for the Greek economy and restoration of Greece's market access.
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The emphasis so far on fiscal austerity, while to a degree necessary for the countries facing market funding difficulties, is excessive when carried out across the board.
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When you inject capital into the parent, it may or may not benefit the subsidiary.
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If you step back and think about it, just a little over two years ago, in 2009, it was not surprising at all to see Chinese exports growing at a 30-plus percent clip.
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2005 is highly likely to be a more challenging environment, both for policymakers and investors.
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We can no longer contemplate a world in which public or private sector funds are used to bail out or recapitalize failing firms.
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We have not argued in either Brazil or Argentina that the IMF should step in to protect the banks.
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In a moment of stress, funding may go to systemically-important firms, which could pull funding away from firms not making the cut.
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Greece's debt is going to be a function of a lot of factors down the road.
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It was very important for us to hear that both European governments and the IMF are going to sustain and augment their commitment to Greece because they don't pursue the debt reduction route. They're actually extending more debt, more loans to Greece.
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I think it is incumbent on the rest of us - and I would suggest that includes other European leaders - to pause in what has become a very popular game of telling the Greeks how to run their lives.
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It is certainly possible that the Greek economy can revive and achieve some growth over the years ahead.
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Exchange rate understandings are of little use on their own.
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Threats of trade protectionism, plus unilateral actions on the exchange-rate front, such as the heavy interventions of China, Japan, and Switzerland in the currency markets - not to mention the retaliatory tariffs recently passed by the U.S. House of Representatives - endanger growth prospects and could further depress financial market confidence.
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I had the privilege of living in Greece in the early 1970s.
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It is time to recognise that austerity alone condemns not just Greece but the whole of Europe to the probability of a painful and protracted era of little or no economic growth. This would be a tragedy not just for Greece and for Europe, but for the world.
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You look at the U.S. budget deficit, and you cannot help but feel that this is a serious accident waiting to happen. And not just a serious U.S. accident, but a serious global accident.
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A new forum is needed that reflects the realities of today's globalised world and the rising importance of emerging markets.
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The risk of policy contagion could be magnified if a new funding arrangement were agreed between Argentina and the IMF before a comprehensive policy framework is developed that addresses fundamental investor concerns.
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Our long-term prosperity depends critically on the ability of world leaders to make politically difficult decisions at a time when the global economy is still vulnerable on so many fronts.
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Observers and even some officials raise questions about the future of Greece as part of the Eurozone, while the Eurozone itself struggles to deal with fundamental flaws at the heart of its architecture.
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Some of the policy measures that are important are politically difficult if taken independent of actions by others in support of common goals. Joint actions are therefore needed, and establishing a G-11 with an effective role for the IMF provides the viable way forward.
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The Fed cannot levitate markets forever. And when they finally do move, I think we have to be prepared for a considerable amount of turbulence.