Unfortunately for those policymakers hoping banks will now repay taxpayer support by lending to boost their national economies, a narrow escape is not the prelude to robust extension of new credit.
The patient may have been resuscitated but is still slumped on his bed in the emergency ward: he is not merrily jogging back to work.
The IMF’s global financial stability report has estimated that total writedowns from the sub-prime mortgage and structured credit disasters will reach $1.4
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