SCHAEUBLE ON PRIVATE SECTOR INVOLVEMENT – Quotes from G20, IMF/World Bank meetings in Washington

SCHAEUBLE ON PRIVATE SECTOR INVOLVEMENT

The challenge to bring crisis-hit countries back on track must not be left to taxpayers alone – and not only for economic reasons. The way governments will handle the burden-sharing between its financial institutions and its citizens will determine financial markets’ stability and western democracies’ legitimacy with their citizens for years to come. It is for these reasons that adequate private sector involvement (PSI (Euronext: ^PSI20 – news) ) has to become an integral part of our efforts to assist countries in adjusting their economic policies.”

Without a substantial contribution of financial institutions, the legitimacy of our western capitalized systems will suffer and with it the legitimacy of its financial institutions.”

via Quotes from G20, IMF/World Bank meetings in Washington – Yahoo! UK & Ireland Finance.

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