Peer Steinbruck Quotes

The stability of global financial markets is a public good. If governments fail to protect this public good, then those who suffer are the working people of the world whose jobs, whose homes, and whose standard of living depends on it.

Let us not be defeated by the tyranny of the world financial markets that threaten peace and democracy everywhere.

The financial industry may not be synonymous with economics, but it does control a large enough sector of the global economy to sink us all, as was unnervingly demonstrated in 2008.

Gordon Brown and Alistair Darling, in hosting the G20 summit and in the budget, must display the same boldness in tackling the instability at home that they do in promoting a worldwide answer to the global meltdown.

The more there is a European solution to a theoretical, but possible, problem in the markets, the less we will have to talk about an I.M.F. solution.

Developments in financial markets can have broad economic effects felt by many outside the markets.

The reality is that the institutional framework in which Wall Street operates is fundamentally inappropriate, and it inevitably generates violent fluctuations of the market.

The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.

With the lessons taken from the financial crisis in 1997, the Republic of Korea has been able to surmount the global economic crisis rather successfully.

I have full confidence in the IMF. It is a very strong international institution.

War used to be something you could stand on the nearby hill and watch. Now we have total war; everybody's in it. We have total economics as well. Everything affects everybody. The Malaysian currency shakes, and people around the world are seriously affected.

A clear lesson of history is that a 'sine qua non' for sustained economic recovery following a financial crisis is a thoroughgoing repair of the financial system.

I hope that the United States would cooperate with the partners to reduce its debt. The debt is a problem. The debt is with you, but unfortunately, the debt is not only with you but with us and with the rest of the world because we all, one way or another, are dependent on the dollar.

If the financial system collapses, it's really, really hard to put it back together again.

Economic and financial crisis are getting much more usual, and they are not confined to a given country but they immediately spread all over the world, and you have to be prepared for that.

I was a professor at Princeton University. And, in that capacity, I studied for many years the role of financial crisis in the economy.

What we know about the global financial crisis is that we don't know very much.

This crisis exposed very significant problems in the financial systems of the United States and some other major economies. Innovation got too far out in front of the knowledge of risk.

Imperceptibly, the developed world's manufacturing base was gradually eroding and being replaced by securitized finance that destroyed itself and nearly its economies in 2008.

Our economy is increasingly dependent on the success and integrity of the financial markets.

One cannot see any world leader who has got a grip on the financial markets these days. They're too big, too fast. I think that's quite scary.

If you followed this economic crisis and you do not think that the world is getting flatter, you are not paying attention. We saw the entire global economy at one time acting totally in sync. The real truth is the world is even flatter than I thought. Our mortgage crisis is killing Deutsche Bank. You still don't think the world is flat?

Forget about banks that are too big to fail; the focus should be on cities, municipalities and countries that are too big to fail.

No nation, rich or poor, democratic or authoritarian, can escape the fundamental economic imperatives of the global market. No nation can escape its discipline. No nation can avoid its responsibility to do its part

To be sure, booms and busts will come and go. But their severity can vary dramatically based on the policies in place to prevent them. With stronger regulations, neither the housing and derivatives bubbles nor the eventual crash would have been so bad.