"We call upon the top management of the commercial banks to take these decisions into account and recognize that they are operating in an environment in which a lot of the fundamental risks to liquidity and solvency have been addressed. There now is a different situation because of the actions of central banks and governments. The banks should recognize that they are no longer in a similar state of shock as they were for example in September"
European Central Bank president Jean-Claude Trichet, pictured above receiving his award for outstanding contribution to finance from Euromoney’s editor Clive Horwood, calls on banks to get ready to start lending again
(see ‘Banks will not forget that their job is to lend’)
"The lesson is that all sides have to be very flexible and prepared to do absolutely whatever it takes, because once you launch the deal, if it doesn’t work and you don’t get the money... you’re dead"
Thierry Olive of BNP Paribas explains how capital raising will be a seat-of-your-pants experience in 2009
(see The Future of Capital)
"The last few months have been like a Marxist’s wet dream – the rich have been absolutely decimated"
James Fenkner, managing director and founder of Red Star Asset Management, sums up the situation in Russia
(see Russian capital markets: Full of value or close to collapse?)
