International Lending in a Fragile World Economy: The Point of View of a Commercial Banker

Abstract

“A nightmare of debts”, “On the brink of chaos”, “Facing financial collapse” — these are the headings of recent newspaper and magazine articles dealing with the subject of this meeting. There can therefore be no doubt about its topicality; or, in other words, there may be reasons for concern. As a matter of fact, as a practical banker I have worked in many a bank, but I was never able to bank on a university education. The honour for me to have been invited to address this eminent gathering of the academic world has therefore been all the greater. I would like to extend my sincere thanks for this invitation.