Funds could be used for recapitalizing the banks and retiring some debt.

In fact, large depositors are not unlike senior bondholders, and the proposed haircut was a small but welcome step forward.

Taxation remains the dominant source of government revenue in most developed countries. But the role of debt finance has been growing and, with it, the need to refinance old debt when total expenditure, including debt service, exceeds total revenue.

We must also bear in mind the role that debt plays as a financing tool for development debt financing is appropriate only where there is a reasonable expectation that loans will be repaid.

The debt ceiling absolutists grossly underestimate the massive adjustment costs of a self imposed sudden stop in debt finance.

But when local governments are barred from debt finance, they look for other means.

Finally, increasing financial leverage means that the firm uses more debt financing relative to equity financing.

With international investors no longer willing to finance this deficit, and even shying away from refinancing existing Greek debt, only three possibilities remain.

The Senior Economic Affairs Officer, Financing for Development Office, Department of Economic and Social Affairs, and the Chief, Debt and Development Finance Branch, United Nations Conference on Trade and Development, made introductory statements.

Debt relief will open doors for the financing of critical projects in electric power, roads, and ports.

We support the movement towards debt forgiveness, and we also believe in the creative identification of alternative sources of financing aid for development.

There is a greater need for the countries to try to make debt finance a positive source of financing for development.

It is certainly right, in principle, to argue that the banks should participate in financing the resolution of the debt crisis.

Several major lenders absconded with large amounts of deposits, and defaults by ordinary companies have become a serious concern.

A senior Italian banker once said that Italian banks would be hanged by the Ministry of Finance if they sold any of their government debt holdings.

To lend more to Spain s government so that it can recapitalize the country s banks adds to its debt burden and scares markets, which fear future debt restructuring.

Similarly, weak banks with overhanging debts that prevent them from funding worthy investments are a drag on the economy.

The ability to refinance government debt and keep costs down is essential to strengthening public finances and boosting GDP growth.

The debt to France was finally repaid in 1879, and Michel Domingue's government peacefully transferred power to Lysius Salomon, one of Haiti's abler leaders.

Now, after one generation of economic and demographic stagnation, the welfare state can be financed only by issuing more public debt.

Takes note of the contribution provided by the multi stakeholder dialogues on sovereign debt organized by the Financing for Development Office of the Department of Economic and Social Affairs of the Secretariat

Nonetheless, the ECB has provided large amounts of liquidity to the financial system, indirectly softening the pressure on government debt refinancing.

Europe wide bank recapitalization is essential in the short term to contain the cost arising from possible sovereign defaults.

By calling upon citizens to finance their own countries national debts, southern Europe s leaders can fix their own economies and strengthen the European principles of solidarity and subsidiarity.

We welcome the declaration by the Group of Eight favouring debt cancellation, time bound commitments for enhanced ODA and the efforts for additional innovative financing.

That increase would enable Treasury mandarins to maintain their latitude in setting fiscal policy, while making it unnecessary to streamline special account budget financing for gargantuan public corporations, into which retiring bureaucrats parachute for lucrative jobs.

26. We emphasize the high importance of a timely, effective, comprehensive and durable solution to the debt problems of developing countries, since debt financing and relief can be an important source of capital for development. To this end

The elderly

25. Takes note of the contribution provided by the multi stakeholder dialogues on sovereign debt organized by the Financing for Development Office of the Department of Economic and Social Affairs of the Secretariat

The economy grew, but mainly because American families were persuaded to take on more debt, refinancing their mortgages and spending some of the proceeds.

In India, financial repression is used as a means to marshal captive savings to help finance massive government debts at far lower interest rates than would prevail in a liberalized market.

The exemption for secured debt undoubtedly concerns mainly the refinancing loans that the ECB has extended to commercial banks against increasingly weak collateral.

We welcome the declaration of the Group of Eight favouring debt cancellation, time bound commitments for enhanced official development assistance, and efforts for additional innovative financing.

It would also reduce numerous efficiency reducing distortions in the US tax code, including substantial tax advantages for debt financing over equity financing and for non corporate businesses over corporate businesses.

Reaffirming the Monterrey Consensus of the International Conference on Financing for Development, which recognizes sustainable debt financing as an important element for mobilizing resources for public and private investment,

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They are too big.

(Laughter)

They are very big.

The elderly and disabled persons

The government then increased funding for basic research and created centers of excellence at universities, but it failed to dismantle the koza system, in which powerful senior professors often dominate research departments.

public provision of credit to the solvent parts of the corporate sector in order to avoid a short term debt refinancing crisis for solvent but illiquid corporations and small businesses

Many super earners are also super creative and bring enormous value.

She has five older brothers.

(a) High ranking Syrian officials