Thursday, December 25, 2008

German President Horst Koehler Backs Finance Reforms

Berlin has been pushing for reforms which would require regulators in every nation to crack down on risky investment schemes.

Koehler, who is a former managing director of the International Monetary Fund (IMF), said the worldwide financial and economic crisis could be overcome, but "we'll have to work hard at it."

Xmas speech excerpts

"An incredible amount of money has been lost. Many people are worried about their savings. Many worry whether their jobs are safe.”

"Our country, our citizens and our government responded wisely and with level heads."

"It's an opportunity for greater cooperation among nations, an opportunity for a better economic and financial order, where capital serves everybody and nobody has to feel oppressed by it.” Dec 24, 2008 - Deutsche Welle


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