“Much of the shadow banking sector, a major contributor to the economic crisis, was also only possible because of taxhaven secrecy.” EconomicMajorsShadowCrisisBankingSecrecyContributorsEconomic Crisis Author:Vince Cable
“Italy spills over to everything. Italy is a huge banking system. It has been the major banking system in Eastern Europe. It's worked with Austria's banking system. There's all sorts of interplays there. So it's not the PIIGS one should worry about. Germany hasn't even begun falling yet. And when Germany falls, and it will, that's when the panic begins to set in.” ShouldHas BeensFallWorryHugeMajorsEuropeGermanyPanicEasternBankingSpillsEastern EuropeBanking SystemAustria Author:George Friedman
“If you don't have a functioning financial system the world economy won't be revived. All the major economies have their responsibility to assist at a pace which is required to clean up the balance sheet of the banking system and to ensure that credit flows are resumed.” IfsWorldResponsibilityEconomyBalanceMajorsFlowCleanFinancialCreditPaceSheetsBankingBanking SystemWorld EconomyFinancial SystemBalance Sheets Author:Manmohan Singh