Charles Dallara

“The Germans argue - and I can fully understand them - that the euro countries must surrender their sovereignty, because that is the only way to implement budget discipline in a fiscal union.”

“When you inject capital into the parent, it may or may not benefit the subsidiary.”

“Our long-term prosperity depends critically on the ability of world leaders to make politically difficult decisions at a time when the global economy is still vulnerable on so many fronts.”

“If you step back and think about it, just a little over two years ago, in 2009, it was not surprising at all to see Chinese exports growing at a 30-plus percent clip.”

“Exchange rate understandings are of little use on their own.”

“The Fed cannot levitate markets forever. And when they finally do move, I think we have to be prepared for a considerable amount of turbulence.”

“2005 is highly likely to be a more challenging environment, both for policymakers and investors.”

“Greece's debt is going to be a function of a lot of factors down the road.”

“It is certainly possible that the Greek economy can revive and achieve some growth over the years ahead.”

“I think that it would be a mistake for any institution to think that their stake in a default or in a voluntary accord is determined by the amount of their exposure, hedged or unhedged.”

“A core group of the world's leading economies need to come together and hammer out an understanding.”

“Observers and even some officials raise questions about the future of Greece as part of the Eurozone, while the Eurozone itself struggles to deal with fundamental flaws at the heart of its architecture.”

“Greece's unprecedented fiscal effort, which was more than planned, has triggered much larger contractions of economic activity and the tax base than the original program had assumed.”

“If the official community is interested in asking the private sector to take another look at Greece, then it will have to be only as part of a broader process of addressing the full range of sovereign debt issues in Europe.”

“It is time to recognise that austerity alone condemns not just Greece but the whole of Europe to the probability of a painful and protracted era of little or no economic growth. This would be a tragedy not just for Greece and for Europe, but for the world.”

“We remain open to explore options on a voluntary approach built on a realistic outlook for the Greek economy and restoration of Greece's market access.”

“The Greek people deserve an economy that is not burdened forever by a heavy bureaucracy and a bloated public sector.”

“It was very important for us to hear that both European governments and the IMF are going to sustain and augment their commitment to Greece because they don't pursue the debt reduction route. They're actually extending more debt, more loans to Greece.”

“We can no longer contemplate a world in which public or private sector funds are used to bail out or recapitalize failing firms.”

“A new forum is needed that reflects the realities of today's globalised world and the rising importance of emerging markets.”