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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: John Hunt who wrote (13195)	1/17/1998 9:04:00 AM
From: John Hunt	Respond to of 18056

Ottawa Citizen Today - Share Asia's pain, western banks told ottawacitizen.com << A former top Canadian G-7 official says banks that racked up bad loans by pouring money into Asia with easy credit to finance speculative business ventures must be forced to pay for their rescue. "It's absolutely essential for political reasons that the banks have to take a hit," says Sylvia Ostry, a former senior trade official and Canada's top bureaucrat at several G-7 summits in the 1980s. >> << And such a move is certain to be discussed in the upcoming round of emergency reform efforts being launched as early as next month by finance ministers from the G-7 nations -- Canada, the U.S., Japan, Britain, Germany, France and Italy -- as well as those from a dozen countries in Asia, Latin America, and Eastern Europe. >> John