Bi-annual Country risk survey monitoring political and economic stability of 185 countries
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Friday, October 17, 2008
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Rather than looking back and asking who is being bailed out - a term Stern says he cant fully comprehend - Stern recommends looking forward and asking: How can you sustain capital market action and get the private sector to participate earlier than perhaps it normally would? Stern thinks there are realistic possibilities if the approach is voluntary and it relies on market rates.
Ernest Stern, while managing director at JP Morgan (September 1998), on weaning crisis countries away from official bail-outs onto private funding