As a minister, you shouldn't imagine you know better than the technical experts in your ministry. In the end you're there to apply the political stamp of approval.
Banks should contribute to the real economy, make a positive contribution to economic growth.
What can you do in order to save your own banks?
What we've done last night is what I call pushing back the risks..If there is a risk in a bank, our first question should be 'Okay, what are you in the bank going to do about that? What can you do to recapitalise yourself? If the bank can't do it, then we'll talk to the shareholders and the bondholders, we'll ask them to contribute in recapitalising the bank, and if necessary the uninsured deposit holders.
Macroeconomic adjustment programmes are tailor-made to the situation of the country concerned and no models or templates are used.
If I finance a bank and I know if the bank will get in trouble I will be hit and I will lose money, I will put a price on that.
