Balance-sheet repair is crucial, BIS official says

04/12/2012 | Wall Street Journal, The

Claudio Borio, deputy chief economist at the Bank for International Settlements, said balance sheets must be repaired to better handle downturns. "Balance-sheet repair lays the groundwork for a self-sustaining recovery," Borio said. "Traditional monetary and fiscal policies need reconsideration. The key point is that room for policy maneuvering is greatly constrained."

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