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Friday 9 December 2016

The word in the twilight zone

Published 27/11/2011 | 05:00

"The one thing we can be certain of among all the uncertainties is that the global economic recession caused by the international financial crisis will be chronic."

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Wang Qishan, vice premier of China.

"People in small businesses need to be aware the banking system will continue to be broken and access to capital will get even more problematic."

Brian Lucey, associate professor of finance, Trinity College.

"At present 37 per cent of our exports are to the UK and the US, with 44 per cent of our imports coming from similar countries, and if certain parties are going to be blunt enough to ask us to choose between Boston and Berlin, then we should be blunt enough to quote some statistics back at them."

Jackie Cahill, outgoing president, ICMSA.

"The chancellor and the federal government do not share the belief of many that eurobonds would be a cure-all for the crisis. Rather, they see the danger that such eurobonds would distract from getting to the root of the problem."

Steffen Seibert, German government spokesman.

"We need more discipline in the euro area because we know that we are in this situation today. . . because the governments of Europe did not respect their commitments. We believe that in the future it may be appropriate to have some kind of stability bonds, provided -- and I want to underline provided -- there are appropriate mechanisms of discipline and convergence."

Jose Manuel Barroso, EU commission president.

"There was uncertainty and too much speculation and rumours that you couldn't be going around pretending that you didn't have that in your head when it was quite obvious that was what I was going to do."

Michael Noonan, Finance Minister, on confirming the German leak that he will increase VAT.

"It's the chief executive's job to bring people together and to provide leadership. I don't see that happening. The executive branch must do more than submit a plan to a committee and then step aside and hope the committee members take action. That's not how any CEO would run a business."

Michael Bloomberg, New York mayor, criticising President Barack Obama for the failure of Congress to hammer out a deficit deal.

"The eurozone is now out of control. It's 50/50 if the euro will survive in its present form."

Shane Ross, TD.

"We never say never. But I'd say unambiguously the introduction of eurobonds is not on the agenda at present. What we need much more are clear and binding stability guidelines for eurozone members." Norbert Barthle, head of the Bundestag budgetary committee.

"Eurobonds are interest rate socialism and socialism is always the wrong way to go."

Rainer Bruderle, Bundestag floor leader and government partner of Angela Merkel.

"We have to go down the path of fiscal union."

Angela Merkel, German Chancellor.

"The fiscal union requires rules. It requires mechanisms for the credible implementation of those rules. Within this context the eurobonds may provide a relevant contribution. Everything is possible within a sound fiscal union."

Mario Monti, Italian PM.

Sunday Independent

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