Financial Crisis Links
THE UNIVERSITY OF IOWA CENTER FOR INTERNATIONAL FINANCE & DEVELOPMENT
Prepared by Judith Faucette
Statements and Press Conferences of World Leaders
Statements
and Press Conferences of World Leaders
President
Nicolas Sarkozy Address to Parliament
Transcript of the French President's June 22, 2009 address to Parliament
on topics including the importance of continuing to work broadly towards
economic recovery, perspectives on globalization, France's opportunity for
success in a post-crisis world based on its system of linking economic gains to
social protection, inequality and development, the deficit, public spending,
job creation, pension reform, and taxation
President
Barack Obama Weekly Address on the Consumer Financial Protection Agency
Transcript and video of the U.S. President's June 20, 2009 address to
the public on the failure of oversight that contributed to the crisis, the
Consumer Financial Protection Agency proposal, and opposition to the proposal
President
Barack Obama Remarks on Regulatory Reform
Transcript of the U.S. President's June 17, 2009 remarks on building a
clean energy economy, building viable and transparent financial markets,
irresponsibility and financial innovation on Wall Street, compensation
practices, systemic risk, the importance of a regulatory solution that
acknowledges the interconnectedness of agencies and institutions, a proposal to
grant new regulatory authority to the Fed, the need for a new resolution
authority, the mission and authority proposed for the new Consumer Financial
Protection Agency, and the plan to close regulatory gaps by dismantling the OTS
and granting new regulatory authority over hedge funds and OTC derivatives
President
José Barroso Remarks at Launch of the Lamfalussy Report
Transcript of the European Commission President's June 16, 2009 remarks
on the need for the EU and Member States to work together on recovery, gaps in
crisis management and prevention, the need to enable supervisors to do their
job and to develop a comprehensive European supervisory framework in place of
the current ad hoc approach, the European Systemic Risk Council proposal,
microprudential supervision, the European System of Financial Supervisors and
European Supervisory Authorities, the application of the subsidiarity principal
to regulation, the Commission's plan to accelerate the new planned architecture
to be implemented in 2010, recent agreements on crisis-related issues between
the Council and Parliament, the need for work on hedge funds and private
equity, amendments to capital requirements and new supervision over
remuneration, public spending, and job creation
President
José Barroso Speech on Employment
Transcript of the European Commission President's remarks at a June 3,
2009 press conference on coordinated actions related to unemployment, use of
reduced hours and training to avoid lay-offs, apprenticeships and training for
unemployed youth, support for training and other employment-related measures in
the EU budget, and the establishment of a new EU microfinance facility for
employment
President
Barack Obama Remarks on GM Restructuring
Transcript of the U.S. President's June 1, 2009 remarks on the
background of negotiations with GM and Chrysler and the President's
decision-making process, the development of a restructuring plan for Chrysler
and the agreement with Fiat, Chrysler's sales numbers, the differences between
Chrysler and GM and the development of GM's restructuring plan, the need for
the government to invest in GM, the reasons for this move and what it means to
the taxpayer, and the bankruptcy process
Prime Minister Gordon Brown Speech
to the Confederation of British Industry
Transcript of the British Prime Minister's May 20, 2009 speech on the
importance of British businesses, the role of inflation and interest rates in
previous recessions, the current lack of these problems and low public debt,
the key role of bank failures in this crisis, falling exports and increasing
job losses, the problems of protectionism and lack of transparency, the promise
of Asia as an export market, the economic importance of climate change, the
problem of a reserve-hoarding strategy, Britain's national strategy for
recovery, long-term planning, and taxation
President
Barack Obama Remarks on Job Creation and Job Training
Transcript of the U.S.
President's May 8, 2009 remarks on job losses in April, signs of improvement,
the importance of education for employment, a new focus to unemployment focused
on education and training, and the new opportunity.gov website
President
José Barroso Remarks at EU Employment Summit
Transcript of the
European Commission President's May 7, 2009 remarks on the centrality of
employment to the EU's crisis response, ideas for those seeking work for the
first time, reduction of job losses, and opportunities for European-level
action in this area
President
José Barroso Speech on Prioritizing Employment (French & English)
Transcript of the
European Commission President's May 5, 2009 remarks on the centrality of
unemployment to the consequences of the crisis, the necessity for a response at
the European level, the upcoming employment summit, the benefits of a European
solution for the system's credibility, the role of the EU as a central point
for collaboration on ideas regarding employment, and specific employment
priorities
President
Barack Obama Remarks on the Auto Industry
Transcript of the U.S.
President's April 30, 2009 remarks on the significance of Chrysler, Chrysler
and Fiat's new restructuring plan, the role of stakeholders including UAW and financial
institutions, and the meaning of the bankruptcy process
President
Barack Obama Post-G-20 Speech on the Economy
Transcript of the U.S.
President's April 14, 2009 speech on the causes of the recession, the
importance of spending, the relationship between the recovery plan and the
deficit, the administration's approach to TARP, the need for new legal
authority to intervene in systemically important institutions and restructure
bonuses, the state of the auto industry, the results of the G-20 meeting,
positive consequences of the recovery plan, crisis prevention philosophy,
regulatory reform, education, energy, and health care policies, and debt
reduction
President
Barack Obama Remarks Following Housing Refinance Roundtable
Transcript of the U.S.
President's April 9, 2009 remarks on the promise of refinancing in the current
economic climate, current mortgage rates, the new MakingHomeAffordable.gov
website, different programs available, and the dangers of refinancing scams
Prime
Minister Gordon Brown G-20 Press Conference
Transcript of the
British Prime Minister's April 3, 2009 press conference on the G-20 summit,
discussing the consensus reached at the summit and the pledges outlined in the
documents coming out of the summit, with questions on what the British will get
out of the agreement, the proportion of new IMF money coming from China, the
difference between stimulus and other methods, plans for the next summit,
protectionism, expectations for the end of the crisis, the possibility of a
global reserve currency, the level of actual agreement between countries,
bankruptcy protection for countries like Greece, the possibility of Britain
using special drawing rights, political considerations in the Prime Minister's
involvement, tax havens, the amount of global trade money going to developing
nations, Saudi contribution to the IMF, the meaning of the summit for ordinary
people, and the inevitability of financial boom and bust
G-20 Global Plan for
Recovery and Reform
Communiqué issued by
G-20 leaders at the London summit on April 2, 2009 pledging actions in the
areas of restoring growth and jobs, strengthening financial supervision and
regulation, strengthening global financial institutions, resisting
protectionism and promoting global trade and investment, and ensuring fair and
sustainable recovery for all
G-20
Declaration on Strengthening the Financial System
Declaration issued by
G-20 leaders at the London summit on April 2, 2009 expressing agreements on
expansion of the Financial Stability Board (formerly Financial Stability Forum)
and broadening of its mandate, international cooperation efforts, frameworks
for prudential regulation, scope of regulation, compensation for financial firm
executives, tax havens, accounting standards, and credit rating agencies
G-20
Declaration on Delivering Resources Through the International Financial
Institutions
Declaration issued by
G-20 leaders at the London summit on April 2, 2009 outlining agreements on
expanded resources for the IMF, lending increases for Multilateral Development
Banks, and new facilities for the IMF and World Bank
Prime
Minister Gordon Brown and President Barack Obama Press Conference
Transcript of a press
conference given April 1, 2009 by the British Prime Minister and U.S. President
on the significance of the G-20 meeting, how to measure its success, the
U.S.-U.K. relationship, and the importance of cooperation, with questions on
tensions over who is to blame for the crisis, resistance to the American model,
President Sarkozy's threat to walk out of the meeting, evaluations of the
global stimulus, expectations regarding the length of the crisis, and the role
of the consumer
Prime
Ministers Gordon Brown and Kevin Rudd Speech at St. Paul's Cathedral
Transcript of speeches
given by the British and Australian Prime Ministers March 31, 2009, addressing
globalization, challenges of the global age, roots of the crisis and the
relationship between financial markets and values, transparency, regulation,
the role of civil society, world poverty, the role of government, and the
importance of continued development, with questions on aid to charities, expectations
for the G-20 meeting, building moral consensus, and the role of education
Prime
Ministers Gordon Brown and Kevin Rudd Press Conference
Transcript of a press
conference given by the British and Australian Prime Ministers March 30, 2009
on global economic challenges, coordinated actions taken, and goals for the
G-20 meeting, with questions on coordinated stimulus, the consequences of
failure to agree, and relations with China
Prime
Minister Gordon Brown and President Felipe Calderon Press Conference
Transcript of a press
conference given by the British Prime Minister and Mexican President March 30,
2009 on global economic challenges, the importance of international
cooperation, tests of success for the G-20 meeting, Mexico's economic
relationship with the U.K. and the EU, recovery plans, and Mexico's support for
restructuring of the international financial institutions, with questions on pay
rises for MPs during the crisis, expectations for the G-20 meeting, and
coordinated fiscal stimulus
Prime
Minister Gordon Brown Speech in Sao Paulo
Transcript of a March
26, 2009 speech by the British Prime Minister in Brazil on the importance of
developing and emerging economies in the global economy, the potential for
growth, global challenges, the sudden halt to foreign investment, the need for
supervisory and regulatory change, the coordinated stimulus and Brazil's
contribution, cutting of interest rates around the world, the need for greater
IMF resources and institutional reform, and trade issues
New
York University Q&A with Prime Minister Gordon Brown, Madeleine Albright,
and Paul Volcker
Transcript of a
Q&A session on March 25, 2009 with the British Prime Minister, former U.S.
Secretary of State, and former Chairman of the Federal Reserve, addressing
globalization, financial instability, world poverty, the significance of the
G-20 meeting, the need for coordinated fiscal and economic policy, the
importance of providing development assistance, the connection between poverty
and security issues, the meaning of multilateralism, the effectiveness of the
international financial institutional structure, expectations for the G-20
meeting, the possibility of new institutions, the possibility of a
super-sovereign reserve currency, protectionism, and leadership roles, as well
as non-economic international issues
Prime
Minister Gordon Brown Pre-G-20 Press Briefing
Transcript of a
briefing for the foreign media given by the British Prime Minister on March 23,
2009 addressing the context of the G-20 meeting, restructuring banking and
financial systems, global growth, emerging economies, and international
financial institutions, with questions on the possibility of a global stimulus,
IFI reform, consistency of the Prime Minister's positions, the European Central
Bank's supervisory powers, expectations for the G-20 meeting, Canada's role,
protectionism, the possibility of a charter of financial sustainability
proposed by German Chancellor Merkel, the likelihood of true international
coordination, the Prime Minister's visit to Brazil, executive remuneration,
Russia's relationship with Britain, support for African nations, China and
India's say in the IMF, the relationship with the U.S., benefits of the G-20
for Turkey and other countries negotiating with the IMF, and expectations of
protests at the G-20 meeting
Prime
Minister Gordon Brown Statement to the House of Commons on the EU Council
Transcript of a
statement given by the British Prime Minister to the House of Commons on March
23, 2009 regarding the EU Council, addressing agreements to avoid
protectionism, present regulatory reform proposals to the G-20, improve
supervisory cooperation, take new regulatory action, increase IMF
contributions, increase stimulus, and move forward on climate change
Chancellor
Angela Merkel Speech at the Federal Association of German Banks (German)
Transcript of a March
23, 2009 speech by the German Chancellor on the global response to the crisis,
smaller financial disturbances prior to this crisis, German actions, the
relationship between the state and financial markets, the approach to bank
bailouts, the German banking model, pricing of assets, procyclicality and Basel
II, reform of financial architecture, and regulatory reform
Prime
Minister Gordon Brown Press Conference at EU Summit
Transcript of a press
conference given by the British Prime Minister at the March 20, 2009 EU Summit
in Brussels on European regulatory reform, free trade, public spending, balance
of payments assistance to Central and Eastern Europe, job creation and economic
growth, increased support to the IMF, and the G-20 meeting, with questions on
the size of the banking package, Chinese cooperation in the crisis, the effect
of increased support to the IMF on Britain's deficit, the effect of global
summits, the Prime Minister's reaction to Northern Rock's troubles, unrealistic
expectations for the G-20 meeting, plans for a new European financial
supervision and regulatory framework, tax havens, hedge fund regulation, and
different countries' level of contribution to the IMF
President
José Barroso Speech at Economic and Social Committee Conference (French)
Transcript of the
European Commission President's March 17, 2009 speech at a conference organized
by the European Economic and Social Committee in Brussels on the upcoming
European Council meeting, falling European GDP and rising unemployment, the
Commission's economic priorities, European cooperation, and details on plans
for financial recovery, recovery of the real economy, and social recovery
Prime
Minister Gordon Brown Speech to African Leaders in London
Transcript of the
British Prime Minister's March 16, 2009 speech to several African leaders in
London on the G-20 meeting, the World Bank Social Protection Fund, support for
financial restructuring throughout the world, trade policy, and international
financial institutions
President
José Barroso and Prime Minister Gordon Brown Press Conference
Transcript of a press
conference given March 16, 2009 by the European Commission President and
British Prime Minister on the G-20 summit, trade proposals, global demand,
developing economies, global financial regulation, fiscal stimulus, and
repairing financial markets, with questions on global stimulus, expectations
for the end of the recession, auto industry bailouts, and European-Chinese
relations
Prime
Minister Gordon Brown and Chancellor Angela Merkel Press Conference
Transcript of a press
conference given March 14, 2009 by the British Prime Minister and German
Chancellor on the European Council and G-20 summit, regulation, systemic risk,
international cooperation, the Financial Stability Forum, disclosure of tax
information, emerging economies, and fiscal stimulus, with questions on the
expectations for agreement at the G-20 summit, the size of fiscal stimulus in
Germany and the level of European fiscal stimulus generally, and tax havens
Joint
Declaration of President Nicolas Sarkozy and Chancellor Angela Merkel (French)
Text of a joint
declaration given by the French President and German Chancellor at the Council
of French and German Ministers, pledging cooperation at the G-20 meeting, to
fight protectionism, to implement previous agreements regarding public
finances, to work together to restore confidence and stability in the eurozone,
to discuss social and economic issues of common interest, and to cooperate on
energy and industrial policy
President
José Barroso Speech Before the European Parliament (French and English)
Transcript of the
European Commission President's March 11, 2009 speech before the European
Parliament on actions taken over the past six months, the need for concrete action
at the European Council meeting, the upcoming G-20 meeting, the need for
regulation and supervision, infrastructure, the importance of European
cooperation, and the social impact of the crisis
President
Barack Obama Weekly Address on the Economy
Transcript of the U.S.
President's March 7, 2009 weekly address to the nation on unemployment
statistics, foreclosure prevention, efforts to stabilize financial markets,
implementation of the ARRA, the budget, and health care
Transcript of the
European Commission President's March 4, 2009 remarks at the presentation of
the European Commission's contribution to the spring European Council,
addressing the spread of the crisis, the need for a coordinated European
economic response, the need for repair of financial markets and the banking
sector, the social response, global coordination, the importance of
transparency and disclosure to level the playing field, steps to build investor
confidence, the importance of implementing the European recovery plan,
effective use of the single market, and unemployment
President
Barack Obama and Prime Minister Gordon Brown Press Conference
Transcript of a joint
press conference given by the U.S. President and British Prime Minister March
3, 2009 in Washington, including questions on financial regulation, the stock
market, and mistakes with respect to the economy
President
Barack Obama Weekly Address on the Budget
Video and transcript
of the U.S. President's February 28, 2009 weekly address to the nation on
elements of the budget including changes in governance, a more fair and
balanced tax code, energy efficiency provisions, health care reform, education
provisions, and deficit reduction
President
José Barroso Remarks Upon Publication of High Level Group on Financial
Supervision Report
Transcript of the
European Commission President's remarks upon publication of a report on
European financial supervision and regulation put out by the independent High
Level Group on Financial Supervision February 25, 2009, addressing the work of
the group and the report itself, the importance of presenting a common European
position at the G-20 summit, the Commission's plan to assess the report and present
its assessment to the European Council, and the need to quickly enact
substantial reforms
President
Barack Obama Address to a Joint Session of Congress
Transcript of the U.S.
President's Feb. 24, 2009 address to a joint session of Congress discussing the
promise of innovation for economic recovery, the need for greater
responsibility on a broad scale, the American Recovery and Reinvestment Act,
job creation and the new tuition credit, oversight efforts, the need to
re-start the flow of credit, efforts to do so including the new lending fund
and housing plan, the approach to financial institutions, sustainability, the
budget, the relationship between energy efficiency and the economy, the
relationship between health care and the economy, the relationship between
education and the economy, the need to reform entitlement programs, and
international cooperation
President
José Barroso Speech Following Meeting with Prime Minister Ferenc Gyurcsány
Main speaking points
of the European Commission President's address following a meeting with the
Hungarian Prime Minister on February 24, 2009, addressing EU loans to Hungary
as part of the IMF and World Bank package, Hungarian policies to address
government and external debt, the importance of implementing these policies,
structural fund payments to Hungary, European Investment Bank and European Bank
for Reconstruction and Development support, and upcoming meetings to address
the economic crisis
President
Barack Obama Weekly Address on New Tax Cuts
Video and transcript
of the U.S. President's February 21, 2009 weekly address to the nation on the
passage of the recovery plan and its benefits, tax cuts and reduced withholding
from paychecks, the need to stabilize the banking system and re-start the flow
of credit, the need to control the deficit, and the new budget
President
José Barroso Remarks Following a Meeting with Chancellor Angela Merkel (English and German)
Transcript of the
European Commission President's remarks following a February 19, 2009 meeting
with the German Chancellor, on the coordinated European response to the
economic crisis, the upcoming meeting of European G-20 leaders, the need to
implement pledges made at the first G-20 summit in Washington, implementation
of the European Economic Recovery Plan, consideration of further proposals, the
Commission's work with the Member States, the upcoming European Employment
Summit, Germany's role in the coordinated response to recovery, and the
importance of free markets
Prime
Minister Gordon Brown February Press Conference
Transcript of the
British Prime Minister's monthly press conference, held February 18, 2009, with
remarks on the Prime Minister's meeting with the Chief of the IMF and President
of the World Bank, the potential for a "global deal" to address the
financial crisis, British actions including lending to banks, the need for
global cooperation on regulation and other issues, and the importance of an
open global economy, with questions on the possibility of a global financial
regulator, the perceived failure of the British system, bonuses for RBS executives,
the future of the British economy, the timeline for world economic recovery,
the comparative size of the British stimulus, the Prime Minister's regrets on
how regulation was handled previously, the Japanese economy, the relationship
between tax rules and executive compensation for bankers under the new plan,
the automotive sector, government pay, regulatory structure, relations between
Britain and Italy, regulatory jurisdiction in tax havens, the merger of Lloyds
TSB and HBOS, and the significance of China in the British economy
President
Barack Obama Weekly Address on the Recovery Plan and Economic Development
Video and transcript
of the U.S. President's February 14, 2009 weekly address to the nation on
passage of the recovery plan, improvements in education, health care, energy,
and infrastructure, unemployment benefits for those who have lost their jobs in
the crisis, accountability and transparency measures, the creation of a new
website to monitor economic recovery, the need to re-start the flow of credit,
the importance of regulation, the need to prevent foreclosures, and the need to
reduce the deficit for long-term growth
President
José Barroso Remarks Following a Meeting with Prime Minister François Fillon (French)
Transcript of the
European Commission President's remarks following a February 12, 2009 meeting
with the French Prime Minister, on European cooperation, the European Economic
Recovery Plan, the upcoming European Council meeting and informal meeting of
European heads of state, the need to develop a common approach to regulation
and financial supervision, executive compensation, hedge funds and private
equity funds, the need for a common approach to toxic assets, the upcoming G-20
meeting, and plans for the European Employment Summit
President Barack Obama
Weekly Address on Passage of the Recovery Plan
Video and transcript
of the U.S. President's February 7, 2009 weekly address to the nation on new
unemployment figures, the passage of the American Recovery and Reinvestment
Plan by the Senate, the importance of swift implementation, smart job creation,
tax relief, and the relationship between new jobs and improvements in areas
such as education, health care, energy, and infrastructure
UK-China
Joint Statement on Economic Cooperation
Joint statement
released by the UK and China on February 2, 2009, on economic cooperation
between the UK and China and between the EU and China, the countries'
commitment to implement the first G-20 summit declaration, commitment to take
certain policy actions and regulate markets, free trade, international
financial institution reform, impact of the crisis on developing nations, broad
international cooperation, and the High Level Economic and Financial Dialogue
between Chancellor Darling and Vice Premier Wang
President Barack
Obama Weekly Address on Economic News
Video and transcript
of the U.S. President's January 31, 2009 weekly address to the nation on the
pace of the recession, job losses, the passage of the recovery plan in the
House and the need for passage in the Senate, frustrations with the bank
bailout and executive compensation, and Treasury Secretary Geithner's new
strategy to restore the flow of credit
Chancellor
Angela Merkel Speech at the Davos Forum (German)
Transcript of the
German Chancellor's January 30, 2009 speech on the importance of international
cooperation, the nature of the crisis, the importance of investor confidence,
German recovery efforts, the European framework, the G-20 meeting and the need
to carry out the plan from the previous meeting, reform of financial
architecture, the relationship between state and market, the need for
functioning global regulation, the importance of free markets, and developing
economies
Prime
Minister Gordon Brown Speech on the Global Economic Crisis
Transcript of the
British Prime Minister's January 26, 2009 speech at the Foreign Press
Association in London on the global economic crisis, focusing on the
interconnectedness of global markets, securitization, bank lending and the new
UK bank lending plan, monetary and fiscal policy, infrastructure,
sustainability, the need for institutional reform, the approach to
international cooperation on the crisis, and the upcoming G-20 meeting, with questions
on the future of the British economy, the possibility of Britain adopting the
euro currency, the possibility of other countries modeling plans after the
British plan, responsibility for the crisis, regulatory priorities, effects of
the Prime Minister's actions in Britain, and international criticisms of the
British approach
President
Barack Obama Weekly Address on the American Recovery and Reinvestment Plan
Video and transcript
of the U.S. President's January 24, 2009 weekly address to the nation on the
present state of the economy, the proposed American Recovery and Reinvestment
Plan, the creation of a clean energy economy, lowered health care costs and
improved education, infrastructure, and accountability
Prime
Minister Gordon Brown Press Conference on Bank Lending Package
Transcript of the
British Prime Minister's January 19, 2009 press conference with the Chancellor
of the Exchequer on the UK bank lending package, focusing on the objectives of
the package, steps already taken and yet to come, the international approach to
bank rescues, the details of the new plan, and the role of international
financial institutions and the Basel system, with questions on lack of
transparency in the banks, bank nationalization, the possibility of national
bankruptcy, taxpayer liability, Northern Rock, the mortgage market,
expectations for Britain's economic future, RBS activities, specifics of the
new plan, fiscal stimulus, the relationship between the government and the
banks, and the possibility of other countries following in Britain's footsteps
Prime Minister Manmohan
Singh Address at Economic Times Awards Ceremony
Transcript of a speech
given January 17, 2009 by the Indian Prime Minister on the spread of the crisis
and its impact on India, steps taken in monetary, fiscal, and credit policy,
infrastructure development and the difficulty of financing projects, effects on
exports, expectations for growth and continued difficulties in 2009-10,
inflation, the deficit, and the IT sector
President
Nicolas Sarkozy Speech at the New World, New Capitalism Colloquium (French)
Partial transcript and
full video of the French president's January 8, 2009 speech at the New World,
New Capitalism colloquium in Paris on the importance of international and
European cooperation, the importance of considering new economic theories and
rules, France's intention to follow its own recommendations to the
international community, the effects of globalization, the need for innovative solutions,
the relationship between the economic crisis and terrorism/extremism, economic
inequalities, the perversion of the logic of capitalism and the true nature of
capitalism, the need for reform rather than destruction of the capitalist
system, the need for global solutions to global problems, taking regional
differences into account, institutional reforms, UK cooperation with
continental Europe, risk assessment, the dangers of speculation, executive
compensation, the need to recalibrate the relationship between the state and
the markets, the problem of American economic dominance, and the importance of
developing economies
President
George W. Bush Speech on Assistance for the Automakers
Transcript of the U.S.
President's December 19, 2008 speech discussing the auto industry's financial
troubles, how the role of government fits into assisting the automakers, the
need to use an alternative approach to Chapter 11 reorganization, the benefits
of the loans offered by the administration, and the conditions
Prime
Minister Gordon Brown December Press Conference
Transcript of the
British Prime Minister's monthly press conference, held December 19, 2009, with
remarks on the lessons of past recessions, efforts to make government more
efficient and control spending, sustainability, increased public investment,
and infrastructure, and questions on the Prime Minister's response to the
crisis one year ago, gloomy economic forecasts, the automobile industry,
exchange rate policy, the regulatory system, the problem of insufficient
lending by banks, the possibility of tax changes, American economic policy, the
nature of the recession in Britain, the mandate to take economic action, ways
to measure economic success, unemployment, the EU's role in coordinated action,
institutional reform, direct lending to businesses, the effect of the financial
crisis on education, and the Prime Minister's confidence in light of economic
turmoil
Prime
Minister Gordon Brown Press Conference at European Council Meeting
Transcript of a
December 12, 2008 press conference given by the British Prime Minister at the
European Council meeting in Brussels including remarks on the European fiscal
stimulus package, benefits for Britain in cooperation with Europe and the
United States, and other coordinated European actions dealing with banks and
monetary policy, and including questions on the relationship between the U.K.
and Germany in the context of coordinated economic action, the bank bailout,
the level of European coordination, the possibility of a larger U.K. stimulus,
and the role of currency
Transcript of a
December 8, 2008 press conference given in London by the British Prime Minister
and the European Council and Commission Presidents on cooperation between
business and government, investment in infrastructure, cooperation with the
U.S., the upcoming G-20 summit in London, common European policy, support for
the European recovery plan, and the level of cooperation within Europe on the
economy
President
George W. Bush Speech on the Recession
Transcript of a brief
December 5, 2008 speech by the U.S. President on the evidence of recession, the
need to stabilize credit and the housing market, and the need for a solution
for the auto industry
President
Nicolas Sarkozy Speech on the Plan to Revive the French Economy (French)
Partial transcript and
full video of the French President's December 4, 2008 speech announcing a plan
to revive the French economy and discussing the changing relationship between
the state and the markets, the growth of emerging markets, the need for a
strong and active response to the financial crisis, the importance of
investment to revive the competitiveness of industry and create jobs, the use
of the Strategic Investment Fund, a new plan to reimburse enterprises for
research and creation of new technologies, the areas of investment planned for
four billion additional euros in infrastructure, investments in local
government, public-private partnerships, the need to continue housing construction,
an urban renewal program, the need to support the auto industry, unemployment,
investor confidence, a plan to support small businesses by exempting them from
a usual fee to the state for new hires, additional support for medium-sized
businesses, and training for workers
President
George W. Bush Speech at APEC CEO Summit
Transcript of the U.S.
President's November 22, 2008 speech at the APEC CEO Summit in Lima on the G-20
summit, the growth of the Asian and Pacific economies, America's attitude
towards this success, the importance of international cooperation, and the
importance of "free markets, free trade, and free people"
President
Nicolas Sarkozy Speech on the Strategic Investment Fund (French)
Partial transcript and
full video of a November 20, 2008 speech by the French President discussing the
French government's plan to invest in industry in place of the ailing banks,
its direct aid to the banks, the creation of the new Strategic Investment Fund
to support development of new enterprises and maintain liquidity in existing
enterprises, the relationship between investment and job creation, the need to
invest in infrastructure, the need for unique solutions in the 21st century, the importance of choosing viable enterprises for investment and
holding a minority share to allow for independent management, the opportunity
for cooperation with international investors and France's intention to maintain
economic openness, the structure of the fund and responsibility for its
operation, transparency, and the initial commitment of twenty billion euros to
the fund
Prime
Minister Gordon Brown and President José Barroso Press Conference on the
Economy
Transcript of a
November 17, 2008 press conference given in London by the British Prime
Minister and European Commission President focusing on the recession, European
actions to combat it, the need for global fiscal stimulus, the Prime Minister's
upcoming chairmanship of the G-20, the European Action Plan, the need for a new
global approach to the crisis, a new food facility to promote agriculture in
developing nations, and the Doha trade round
Text of the
declaration made by G-20 members following the November 15, 2008 summit in
Washington on financial markets and the world economy, pledging specific
actions to address the global financial crisis, articulating reform principles,
delegating further considerations to financial ministers, and setting forth a
detailed action plan
President
George W. Bush Speech at G-20 Summit
Transcript of the U.S.
President's November 15, 2008 speech following the G-20 summit meeting,
addressing U.S. actions in response to the crisis and the results so far,
agreement to reform regulatory structures, the need to increase the integrity
of financial markets, the need for institutional reform to make economic
reforms consistent, and agreement on further cooperation
Transcript of a
November 15, 2008 press conference given by the British Prime Minister and
Chancellor of the Exchequer at the G-20 summit in Washington addressing the
plan agreed upon by those at the summit, Obama's expected economic course, a
proposed college of regulators, plans for a follow-up summit, the role of the
G-20 as opposed to the G-8, the causes of the crisis, the use of unfunded tax
cuts in Britain, and reform of the international financial institutions
President
Nicolas Sarkozy and President José Barroso Press Conference at G-20 Summit
Transcript of a
November 15, 2008 press conference given by the European Council and Commission
Presidents at the G-20 summit in Washington addressing the agreement on
international cooperation, the plan for a second summit, agreement to take
fiscal and budgetary action, to increase regulation of the financial sector, to
create an efficient and just global economic governance, and to avoid
protectionism, details of agreed-upon regulatory principles, participation of
developing nations, the importance of the unified European position on the
crisis, the effect of the American Presidential transition on the response to
the crisis, the relationship between the reaction to the crisis and the
obligation to developing nations, investor confidence, the value of agreement
with the United States in light of the upcoming transition, the complexity of
the American economic situation, the use of European as opposed to national
mechanisms in response to the crisis, the difference in the economic situation
and response among European nations, the use of monetary policy and public
investment, the role of the G-8, reform of international financial
institutions, and compensation for bankers
Prime Minister Manmohan
Singh Address at the G-20 Summit
Transcript of a
November 15, 2008 speech by the Indian Prime Minister on the effects of the
crisis in emerging economies including India, adverse impact on poverty and
health, the need for a coordinated global response, steps already taken, the
possibility of a coordinated fiscal stimulus, demands on the IMF and
alternatives, the need for creative solutions to decreased levels of
infrastructure investment, means of increasing trade flows, support for
developing nations, regulatory reform including IMF reform, and the Basel
framework
President
George W. Bush Speech on Financial Markets and the Global Economy in New York
Transcript of the U.S.
President's November 13, 2008 speech in New York on the interconnectedness of
the global economy, the objectives of the G-20 summit, national actions taken
to stabilize the economy, the need for reform within a continued free market
context, and the importance of free trade
President
Nicolas Sarkozy and President José Barroso Press Conference at Financial Reform
Summit (French); English
Version
Partial transcript and
full video of a November 7, 2008 press conference given by the Presidents of
the European Council and Commission in Brussels on the European strategy for
the G-20 summit, the need for a decisive international response, communications
with President Bush and President-Elect Obama, the need for an economic
solution integrated with other challenges, the relationship between financial
and economic crises, the importance of taking developing nations into
consideration, European-American cooperation, the roles of international financial
institutions, IMF reform, relations between France and Germany, currency and
the monetary system, the need for immediate action and reasons for not delaying
the summit until Obama takes office, the viability of secret (i.e., Swiss) bank
accounts in a system based on transparency, the effect of the financial crisis
on the Lisbon treaty process, and relations with Russia
Prime
Minister Gordon Brown Press Conference at Financial Reform Summit
Transcript of a
November 7, 2008 press conference given by the British Prime Minister at the
Financial Reform Summit in Brussels including a statement covering
international financial reform, the role of fiscal and monetary policy, and
actions to avoid the further spread of the crisis to emerging economies and
questions on interest rate cuts by banks, the approach of the Obama
administration to the economy, limits on executive remuneration, the
coordinated fiscal stimulus, IMF reform, and the plan for colleges of
supervisors to oversee large international financial firms
Prime
Minister Gordon Brown Speech in Abu Dhabi
Transcript of a speech
by the British Prime Minister on November 3, 2008 in Abu Dhabi focusing on the
global nature of the financial crisis, Britain's relationship with the Gulf,
the importance of American leadership, energy policy, and the need for a
coordinated response including strengthening of the global banking system,
coordination of fiscal and monetary policy, IMF reform, and actions to sustain
trade
President
Dmitri Medvedev Remarks on G-20 Summit (Russian); English
Version
Transcript of the
Russian President's opening remarks at an October 31, 2008 meeting in
preparation for the planned G-20 summit, discussing prior Russian warnings
about the US economy and failures in international cooperation, need for
international financial reform, and specific reform suggestions
Press
Conference with Prime Minster Gordon Brown and Chancellor Angela Merkel on the
Global Economy
Transcript of the
British Prime Minister and German Chancellor's October 30, 2008 press
conference on the global economy and financial reform, with statements
summarizing their meeting on these issues and emphasizing an international
solution as well as the importance of emerging economies
President
Nicolas Sarkozy Speech to Regional Treasurers and Prefects (French)
Partial transcript and
full video of the French President's October 30, 2008 speech urging regional
treasurers and prefects to help the federal government restore confidence and
carry out economic recovery beyond the government's bank rescue plan, for
example by supporting small businesses, not changing the terms of existing
loans, and avoiding unreasonable credit restrictions at the local level
Prime
Minister Geir Haarde Address to the Althingi on the Economic Situation
English-language
transcript of the Icelandic Prime Minister's October 30, 2008 speech to the
Icelandic parliament on the state of the Icelandic economy and IMF involvement,
addressing the reasons for a particularly severe form of bank rescue, the
economy's short-term and longer-term needs, the importance of IMF participation
in securing foreign loans, the conflict between Iceland and Britain, the
investigation into the banking collapse, and the specifics of the IMF agreement
Prime
Minister Gordon Brown Speech on the Economy
Transcript of the
British Prime Minster's October 28. 2008 speech in London addressing the spread
of the financial crisis to Eastern Europe and the need for countries in the
Gulf region especially to supplement IMF funds
Prime
Minister Gordon Brown Speech to London Business Leaders
Transcript of the
British Prime Minister's October 27, 2008 speech to London business leaders,
followed by a Q&A session, focusing on globalization including the
financial crisis and the need for a comprehensive response
Statement of the Seventh
Asia-Europe Meeting on the International Financial Situation
Statement issued at
the conclusion of the ASEM Summit on October 24, 2008 regarding leaders'
concerns about the financial crisis and broad goals for resolution
Prime Minister Manmohan
Singh Remarks on the Financial Crisis at the ASEM Summit
Transcript of an
October 24, 2008 speech by the Indian Prime Minister on the causes of the
crisis, the need for regulatory reform, the impact of the crisis on developing
economies, the role of international financial institutions and developed
economies, the need for a global approach to reform, and India's financial
position
Statement
Following the Meeting of Nordic Prime Ministers
Brief statement issued
October 27, 2008 following a meeting of Nordic Prime Ministers on the financial
crisis, focusing on the need for an early-warning system, responsibility to
assist Iceland in its own crisis, and the IMF agreement with Iceland
President
George W. Bush Radio Address on the Economy
Transcript of the U.S.
President's October 25, 2008 radio address to the American public on actions of
Congress, the FDIC, and the Federal Reserve to address the economic situation,
the G-20 Summit, and the goal of long-term growth
President
Nicolas Sarkozy Speech at the ASEM Summit (French)
Partial transcript and
full video of the French President's October 24, 2008 speech at the Seventh
ASEM Summit on the need for European-Asian cooperation, the need for a global
response to the global financial crisis, and the hope that Asia will support
the unified response that Europe demonstrated at the October 15 summit
Prime Minister Manmohan
Singh Speech at the ASEM Summit
Transcript of the
Indian Prime Minister's remarks on the international financial crisis at the
ASEM summit on October 24, 2008 addressing the causes of the crisis, the lack
of effective international governance, the effect of the crisis on developing
countries, the need for reform of financial institutions, the need for
regulation, and other suggestions
President
Nicolas Sarkozy Speech on the Economy (French)
Partial transcript and
full video of the French President's October 23, 2008 speech on the economy
focusing on the need for honesty to restore confidence, the need to strengthen
the banking system, justifications for state intervention, safeguards to
protect the government's investment, the structural and global nature of the
crisis, the need for institutional reform, and the new relationship between
political power and the economy
Meeting
between President Dmitri Medvedev and VEB Chairman Vladimir Dmitriev (Russian); English
Version
Transcript of the
beginning of an October 23, 2008 meeting between the Russian President and the
Chairman of Vnesheconombank, focusing on VEB's role in the implementation of an
October 13 Russian law to address the financial crisis and rescue the banks
Partial transcript and
full video of an October 21, 2008 press conference with the Presidents of the
European Council, the European Commission, and the European Parliament on the
coordinated European response to the global financial crisis
President
George W. Bush's Statement at a Roundtable Meeting on the Economy
Transcript of the U.S.
President's speech at a roundtable meeting on the economy in Alexandria,
Louisiana on October 20, 2008 explaining the President's justification for his
response to the financial crisis despite his general free-market orientation
and focusing on effects on small banks and businesses
Prime
Minister Yulia Tymoshenko's Address on the Economic and Political Situation in
Ukraine
Transcript of the
Ukrainian Prime Minister's October 20, 2008 address on the global financial
crisis, the endurance of the Ukrainian economy despite global turmoil, the need
to take steps to avoid financial repercussions, and the need for political
stability
Transcript of
statements given following an October 18, 2008 Camp David Meeting on the
international response to the economic crisis by the Presidents of the United
States, France, and the European Commission including comments on the European
response, the G7 action plan, and the need for an international summit to
address the crisis
Statement
of the United States, France, and the Presidency of the European Commission
Brief statement issued
October 18, 2008, following the Camp David meeting and announcing the leaders'
agreement to pursue a series of world summits on the financial crisis
President
George W. Bush Speech at the Chamber of Commerce
Transcript of the U.S.
President's October 17, 2008 speech before the U.S. Chamber of Commerce
addressing the roots of the financial crisis, the U.S. government and
international responses, the reasons and justifications for federal involvement
in the banks, and lessons for the future
Transcript of the
British Prime Minister and Foreign Secretary's October 16, 2008 press
conference after the close of the EU Council outlining agreed-upon principles
for the financial system and addressing the bank restructuring plan in Britain,
efforts to jumpstart the British economy, the need for international responses,
the possibility of recession in Britain, IMF reform, taxation, the mortgage
market, and the EU's relationship with Russia in the context of the financial
crisis
Press
Conference with President Nicolas Sarkozy and President José Barroso Following
EU Council (French)
Partial transcript and
full video of a press conference with the Presidents of the European Council
and Commission following the EU Council on October 16, 2008 addressing the
European response to the financial crisis and plans for a global summit
Meeting
Between President Medvedev and Ministers on Economic Issues (Russian); English
Version
Transcript of the
beginning of an October 16, 2008 meeting on economic issues involving the
Russian President, the Minister of Finance, and the Economic Development
Minister focusing on steps taken so far to stabilize Russian markets and the
particular focuses of those two ministries in organizing future efforts
Press
Conference with Prime Minster Gordon Brown and President José Barroso on the
Economy
Transcript of the
British Prime Minister and European Commission President's October 15, 2008
press conference on the economy addressing the European Community financial
recovery package and the need to coordinate internationally, especially with
the U.S.
President
George W. Bush's Statement Following a Cabinet Meeting on the Economy
Transcript of the U.S.
President's statement following an October 15, 2008 cabinet meeting focusing on
justifications for the bailout plan
Prime Minister
Geir Haarde's Address to the Althingi on the Economic Situation in Iceland
English-language
transcript of the Icelandic Prime Minister's October 15, 2008 address to the
Icelandic parliament following the banking collapse, addressing immediate governmental
reactions to the crisis, the reasons for such a sudden and unexpected turn of
events, reasons for a different response in Iceland than in other countries,
the British freeze on Icelandic bank assets, and the necessary steps of
response to the crisis
President
George W. Bush Speech on the International Response to the Financial Crisis
Transcript of the U.S.
President's speech on October 14, 2008, announcing the steps the U.S plans to
take in a coordinated international response to the financial crisis following
G-7 and G-20 meetings
Transcript of the
British Prime Minister and Chancellor of the Exchequer's October 13, 2008 press
conference following the adoption of the financial restructuring plan,
describing new liquidity injections and a new lending guarantee and answering
questions on the wisdom of government interference in the banks, implications
of the plan for the budget, relations with Iceland, the possibility of
investigations, the risks of the plan, and the American bailout plan
Prime
Minister Gordon Brown Speech on the Global Economy
Transcript of the
British Prime Minister's October 13, 2008 speech on the global economy,
focusing on the need to support the banking system, the need for international
cooperation, the British restructuring plan, safeguards to protect taxpayers,
European agreement for coordinated action, the need to involve the U.S. and
Asia, and the importance of long-term global solutions
President
Nicolas Sarkozy Speech at the EU Council (French)
Partial transcript and
full video of the European Council President's October 13, 2008 address to the
Council calling for a coordinated European response to the global financial
crisis
Final
Statement from Eurozone Summit on Financial Crisis
Statement issued on
October 12, 2008 by leaders of countries in the eurozone regarding a European
Action Plan to address the financial crisis
Press
Conference at the Eurozone Summit (French)
Partial transcript and
full video of an October 12, 2008 press conference with European leaders
announcing the new action plan and answering questions on the financial crisis
President
George W. Bush Statement Following G-7 Meeting
Transcript of the U.S.
President's statement following an October 11, 2008 meeting of G-7 finance
ministers, discussing the U.S. role in the international response to the
financial crisis, actions of the Federal Reserve and Congress, and the
agreement to plan a coordinated response to the crisis
President
George W. Bush Speech on the Economy
Transcript of the U.S.
President's speech on October 10, 2008, describing the credit crisis to the
American public and laying out steps the government is taking to address it,
including the $700 billion bailout plan
Transcript of the
British Prime Minister and Chancellor of the Exchequer's October 8, 2008 press
conference describing the bank restructuring plan and plans for an
international response and answering questions on the origin of funds for the
plan, justifications for the taxpayers, bank actions, blame for the crisis,
risks to the plan and alternatives, reasons for not following the American
plan, and the international response
President
George W. Bush Speech and Q&A on the Bailout Plan
Transcript of the U.S.
President's October 7, 2008 speech on the Congressional bailout plan at
Guernsey Office Products in Chantilly, Virginia with a Q&A session focusing
on the effect of the credit crisis on small businesses, the content of the bill
including oversight measures, energy costs, foreclosures, taxation, and exports
President
Dmitri Medvedev Speech on Economic Plan (Russian); English
Version
Transcript of a brief
speech following an October 7, 2008 meeting on economic issues announcing
proposed loans to several banks and a simplified regime for debt recovery
Declaration
of European Heads of State and Government on the Financial Crisis (French)
Partial transcript and
full video of the French President announcing and reading on October 6, 2008
the declaration agreed upon by the European Union heads of state and heads of
government as a unified response to the financial crisis
Press
Conference Following the European G-8 Meeting on the Financial Crisis (French)
Partial transcript and
full video of a October 4, 2008 press conference following a meeting of
European G-8 leaders announcing the results of the meeting followed by
questions to the leaders on the financial crisis
President
George W. Bush Speech on the Bailout Plan
Transcript of the U.S.
President's October 3, 2008 speech to the American people on the benefits and
expected result of the bailout plan, focusing especially on families and small
businesses
President
George W. Bush Statement Following Meeting with Business Leaders on the Bailout
Plan
Transcript of the U.S.
President's statement following an October 2, 2008 meeting with American
business leaders on the bailout plan, focusing on the effects of the credit
crisis and the need for the House to pass the bailout plan
President
George W. Bush Statement Following Initial Failure of the Bailout Plan in the
House
Transcript of a brief
statement by the U.S. President after the initial bailout plan was defeated in
the house September 30, 2008, focusing on the need for action and trying to put
the $700 billion figure in perspective
President
George W. Bush Statement Urging Passage of the Bailout Plan
Transcript of a brief
statement by the U.S. President on September 29, 2008, encouraging both houses
of Congress to pass the proposed bailout plan
President
George W. Bush Statement Approving the Bailout Plan
Brief written
statement issued September 28, 2008 by the U.S. President approving of the
bailout plan agreed upon by members of Congress and the Bush Administration
Prime
Minister Gordon Brown's Q&A with the Press in New York
Transcript of a brief
question and answer session with the British Prime Minister on September 26,
2008 in New York City addressing the relationship between the U.S. bailout plan
and Britain's economic health, the difference between the two economies'
responses to the crisis, the measures necessary to stabilize the economy, and
the Prime Minister's plans to address the President on the need for an
international response
President
George W. Bush's Address to the Nation
Transcript of the U.S.
President's September 24, 2008 Address to the Nation on the economy, discussing
the causes of the crisis, the need for and elements of a rescue plan, and the
expected results of the plan
President
George W. Bush Speech on the Federal Government's Response to the Financial
Crisis
Transcript of the U.S.
President's September 19, 2008 speech on the federal government's response to
the crisis, highlighting progress in Congress and actions by the Federal
Reserve, Treasury Department, and SEC
Letter
from President Nicolas Sarkozy to Chancellor Angela Merkel
August 15, 2007 letter
from the French President to the German Chancellor and President of G-7 on the
world financial situation highlighting efforts already taken and problems that
G-7 leaders should address
Speeches
and Statements by Banks, Financial Institutions, and Others
Axel
Weber Speech on Reactions to and Lessons of the Crisis
Transcript of a June
23, 2009 speech by the President of the Bundesbank on the financial markets
crisis in retrospect, the role of monetary policy in the financial crisis, and
revision of the financial architecture
Lorenzo
Bini Smaghi Speech on a Post-Crisis Monetary Order
Transcript of a June
23, 2009 speech by a member of the European Central Bank Executive Board on the
balance of payments, crisis management, determining a sustainable payments
deficit, the Bretton Woods system, reliance on markets to allocate capital,
failures of emerging economies to let currencies float freely and of the IMF to
convince countries to make their macroeconomic policy consistent with
sustainable current account positions, and the role of the IMF post-crisis
Jean-Claude
Trichet Speech on Key ECB Policy Actions in the Crisis
Transcript of a June
22, 2009 speech by the European Central Bank President on the roots of the
crisis and its propagation, ECB policy actions in the crisis, interest rate
action, and enhanced credit support
John Lipsky
Speech on Post-Crisis Global Outlook and Policy Challenges
Transcript of a June
19, 2009 speech by the First Deputy Managing Director of the IMF on continued
obstacles in the global economic outlook, the need to keep policies focused on
recovery, the need for an exit strategy, finding new sources of growth, and
Turkey and the global crisis
José
González-Páramo Speech on the Future of Central Banking After the Crisis
Transcript of a June
19, 2009 speech by a member of the European Central Bank Executive Board on
domestic and international monetary policy coordination, international
convergence in liquidity frameworks, direct lending to the real economy, the
weight of asset prices in monetary policy, and central bank involvement in
supervision
Lorenzo
Bini Smaghi Speech on Post-Crisis Supervision and Regulation
Transcript of a June
19, 2009 speech by a member of the European Central Bank Executive Board on
monitoring and analyzing risk, containing risk, and the institutional framework
for supervision and regulation
Elizabeth
Duke Speech on Containing the Crisis and Promoting Economic Recovery
Transcript of a June
15, 2009 speech by a Federal Reserve Governor on the success of particular
policies to contain the crisis including interest rate policy, balance sheet
and credit-easing policies, the Emergency Economic Stabilization Act, and the
Supervisory Capital Assessment Program, and the success of policies from an aggregate
credit perspective
Daniel
Tarullo Speech on Large and Small Banks in an Era of Systemic Risk Regulation
Transcript of a June
15, 2009 speech by a Federal Reserve Governor on the impact of regulatory
changes on large and small banks
Gertrude
Tumpel-Gugerell Speech on Post-Crisis Rules, Supervision, and Infrastructure
Transcript of a June
15, 2009 speech by a member of the European Central Bank Executive Board on the
performance of EU market infrastructures during the crisis and areas for
improvement including crisis management arrangements, infrastructures for OTC
derivatives, and more efficient and resilient retail infrastructures
Jean-Claude
Trichet Speech on the Financial Crisis and the ECB's Response
Transcript of a June
12, 2009 speech by the European Central Bank President on the financial crisis,
its roots, and the ECB's response
Axel
Weber Speech on Lessons of the Financial Crisis
Transcript of a June
10, 2009 speech by the President of the Bundesbank on roots of the crisis,
measures to overcome the crisis, and consequences and lessons of the crisis
Elizabeth
Duke Speech on the Systemic Importance of Consumer Protection
Transcript of a June
10, 2009 speech by a Federal Reserve Governor on the course of the crisis, the
perspective of a central banker, and the Fed's role in consumer protection
Daniel
Tarullo Speech on Financial Regulation Post-Crisis
Transcript of a June
8, 2009 speech by a Federal Reserve Governor on the recent history of financial
regulation, the imperative of regulatory reorientation, and framing a
post-crisis regulatory program
Jürgen
Stark Speech on Policy Responses to the Economic Crisis
Transcript of a June
8, 2009 speech by a member of the European Central Bank Executive Board on the
global and European economic outlook, monetary and fiscal policy measures,
implications of those measures, and monetary policy lessons from the crisis
Gertrude
Tumpel-Gugerell Speech on the Post-Crisis Financial Architecture
Transcript of a June
6, 2009 speech by a member of the European Central Bank Executive Board on
challenges for the financial architecture, areas in which global cooperation is
necessary, and how the strategies mentioned can be applied to the EU
José
González-Páramo Speech on the Role of Central Banks in the Crisis
Transcript of a June
4, 2009 speech by a member of the European Central Bank Executive Board on what
central banks can and cannot do to contain a financial crisis, how central
banks can help to overcome the crisis, and central banks' impact on market
functioning
Jean Claude
Trichet Speech on the Financial Crisis and the Role of Central Banks (French); English
Version
Transcript of a May
29, 2009 speech by the European Central Bank President on the roots of the
crisis, the ECB's response including interest rate policy and non-standard
measures, and the role of emerging market and Mediterranean economies in the
global economy
Takatoshi Kato
Speech on the Global and Financial Outlook and Challenges for Emerging
Economies
Transcript of a May
28, 2009 speech by the Deputy Managing Director of the IMF on the global
economy and outlook, the expectation of a lengthy recovery period, policy
challenges, challenges for emerging markets, the outcome of the G-20 summit,
and the IMF's role in solving the crisis
Axel
Weber Speech on Challenges for Monetary Policy in the Financial Crisis
Transcript of a May
28, 2009 speech by the President of the Bundesbank on transmission of monetary
policy in the eurozone, the exchange rate channel, short- and long-term changes
in monetary policy transmission, and long-term lessons for monetary policy
Lucas
Papademos Speech on the Role of the ECB in Financial Crisis Management
Transcript of a May
27, 2009 speech by the European Central Bank Vice President on the role and
instruments of central bank policy, effectiveness of policies, bank support
measures and fiscal stimulus, and prospects and exit strategies
Lorenzo
Smaghi Speech on Strategies for Emerging from the Crisis (Italian); English
Version
Transcript of a May
27, 2009 speech by a member of the European Central Bank Executive Board on how
monetary policy contributed to imbalances that caused the crisis, the current
debate over the use of monetary policy and its effect on financial market
developments, the ECB's monetary policy, the de Larosière report, the
importance of policy set in emerging markets, the limits on incorporation of
lessons learned into current policy and different theories on why these limits
exist, and crisis prevention
Axel
Weber Speech on Ending the Crisis and Countercyclicality (German)
Transcript of a May
25, 2009 speech by the President of the Bundesbank on the relationship between
real economy and the global financial crisis, the current state of the
financial markets, cyclical perspectives in Germany and in Europe, and fiscal
and monetary policy measures in the eurozone
José
González-Páramo Speech on Lessons from the Crisis for Finance at the Crossroads (Spanish)
Transcript of a May
25, 2009 speech by a member of the European Central Bank Executive Board on the
current situation, causes of the crisis, financial and economic stability, and
how to recover stability and confidence in the future
Donald
Kohn Speech on Interactions Between Monetary and Fiscal Policy in the Crisis
Transcript of a May
23, 2009 speech by the Vice Chairman of the Federal Reserve on fiscal policy in
a situation where traditional monetary policy options are running out,
nontraditional monetary policies, and the transition back to traditional monetary
policy
Duvvuri
Subbarao Speech on Risk Management in the Crisis
Transcript of a May
22, 2009 speech by the Governor of the Reserve Bank of India on worldwide
crisis management, the response to the crisis and challenges in India, the
future for policy and financial stability, the Committee on Financial Sector
Assessment, and the outlook for India
Dominique
Strauss-Kahn Speech on the Challenges for Africa in the Crisis
Transcript of a May
19, 2009 speech by the Managing Director of the IMF on Africa's innocence in
terms of response to the crisis, hardships including the food and fuel price
crisis and the arrival of the global crisis, the severe impact on Africa,
policy options, and external aid
John Lipsky
Remarks on Overcoming the Great Recession
Transcript of a May
18, 2009 speech by the First Deputy Managing Director of the IMF on the reasons
that Asia has been hit so severely by the recession, means of recovery, future
expectations, and how the IMF can respond
Dominique
Strauss-Kahn Speech on Crisis Management and Policy Coordination
Transcript of a May
15, 2009 speech by the Managing Director of the IMF on monetary policy
coordination, fiscal policy coordination, and coordination of financial sector
regulation and supervision
Lucas
Papademos Speech on Monetary Policy and the Great Crisis, Lessons and
Challenges
Transcript of a May
14, 2009 speech by the European Central Bank Vice President on the role of
monetary policy and liquidity management in addressing the crisis, the exit
strategy from extraordinary policy measures taken during the crisis, and crisis
prevention and monetary policy
Axel
Weber Speech on Reflections on the Financial Crisis
Transcript of a May
13, 2009 speech by the President of the Bundesbank on the financial crisis
background, banking stabilization measures, monetary policy measures taken in
the eurozone, and long-term lessons for monetary policy
Takatoshi Kato
Speech on Why Asia Has Been So Hard Hit by the Crisis
Transcript of a May
12, 2009 speech by the Deputy Managing Director of the IMF on the extent of the
crisis's impact in Asia, the link between the impact of the crisis and Asia's
integration with the global economy, impact on trade, domestic demand, the
differences between China and the rest of Asia, the impact of global
deleveraging on Asian markets, the cushioning effect of reserves and its
failure in Korea, harm to financial centers, impact on the corporate sector,
aggressive policy responses, and expectations for recovery
Axel
Weber Speech on the Global Financial Crisis from a German Perspective (German)
Transcript of a May
12, 2009 speech by the President of the Bundesbank on the global financial
crisis and the reaction of the real economy, the German perspective, the
situation of German banks, fiscal policy measures in Germany, and monetary
policy in the eurozone
Ben
Bernanke Speech on the Supervisory Capital Assessment Program
Transcript of a May
11, 2009 speech by the Chairman of the Federal Reserve on the Supervisory
Capital Assessment Program's objectives, the process and methodology,
determining the size of the capital buffer, evaluating results, and lessons
learned
Ben
Bernanke Speech on Lessons of the Financial Crisis for Banking Supervision
Transcript of a May 7,
2009 speech by the Chairman of the Federal Reserve on the Fed's role in banking
supervision and lessons from the crisis in the areas of strengthening capital,
liquidity, and risk management, consolidated supervision, and financial
stability
Joint
Statement on the Supervisory Capital Assessment Program
Joint statement by the
Secretary of the Treasury, Chairman of the Federal Reserve, FDIC Chairman, and
Comptroller of the Currency on the timeline for the SCAP, the SCAP's focus on
Tier 1 common capital, the SCAP's role as a buffer to prevent future problems,
the capital planning process, Mandatory Convertible Preferred as a source of
capital, and the redemption of the preferred securities issued under the
Capital Purchase Program
Lucas
Papademos Speech on Economic Impact, Policy Response, and Exit Strategy in the
Crisis
Transcript of a May 4,
2009 speech by the European Central Bank Vice President on the evolving nature
of the crisis and its economic impact, the rationale and effectiveness of
policy measures created in response to the crisis, and the need for financial
reform and an exit strategy
Jean-Claude
Trichet Speech on the Financial Crisis and the European Central Bank's Response
So Far
Transcript of an April
27, 2009 speech by the European Central Bank President on the origins of the
financial crisis, the shift from financial turmoil to financial panic,
financial/economic structures and monetary policy, and the Bank's response
Sheila
Bair Speech to the New York Economic Club
Transcript of an April
27, 2009 speech by the FDIC Chairman on the need for FDIC resolution authority,
the need for changes in the resolution of systemically important financial
institutions, the possibilities of a new resolution regime, the benefits of
short-term pains, funding for the regime, and the need for a central FDIC role
Transcript of an April
23, 2009 speech by the Managing Director of the IMF on historical lessons in
multilateralism, difficulties in international financial institutions alongside
globalization, the importance of an effective IMF for emergency situations and
policy advice, legitimacy as a provider of early warnings, and legitimacy as a
global institution
Rakesh Mohan
Speech on Causes, Impact, Policy Responses, and Lessons of the Global Financial
Crisis
Transcript of an April
23, 2009 speech by the Deputy Governor of the Reserve Bank of India on the
genesis of the crisis, its components, the implications of volatile capital
flows for emerging economies, the initial impact of the subprime crisis on
India, the impact of the Lehman Brothers failure, India's success in financial
regulatory policies, the Reserve Bank's responses, and lessons learned
Donald
Kohn Speech on the Economic Outlook
Transcript of an April
20, 2009 speech by the Vice Chairman of the Federal Reserve on recent
developments, the outlook for recovery, the strength of the recovery, and the
prospect of inflation
Jean-Claude
Trichet Speech on the Global Dimension of the Crisis
Transcript of an April
18, 2009 speech by the European Central Bank President on what the crisis has
changed and how fast, root causes of the crisis, structural factors, global
imbalances, risk premia, and the policy response
Donald
Kohn Speech on Monetary Policy in the Financial Crisis
Transcript of an April
18, 2009 speech by the Vice Chairman of the Federal Reserve on the Fed's
monetary policy actions, their effectiveness, credit allocation, the risk to
the taxpayer, means of measuring how much needs to be done to assure recovery,
the inflationary effect of these actions, and fears about compromised
independence
Jean-Claude
Trichet Speech on Restoring Confidence in the Global Financial System
Transcript of an April
17, 2009 speech by the European Central Bank President on financial excesses at
the root of the crisis, the global response, and the Bank's response
Ben
Bernanke Speech on Financial Innovation and Consumer Protection
Transcript of an April
17, 2009 speech by the Chairman of the Federal Reserve on sources of financial
innovation, examples of financial innovation, and how to protect consumers given
these innovative and complex financial products
Dominique
Strauss-Kahn Speech on the IMF's Mandate for Action
Transcript of an April
16, 2009 speech by the Managing Director of the IMF on the G-20 summit and the
agreement to increase IMF resources, expectations for 2009-10, financial sector
reform, global stimulus, financing actions, continued need for strong
supervision and regulation, the need for greater surveillance, the IMF's role,
flexibility in financing arrangements, the importance of a preventative focus,
and international cooperation
Axel
Weber Speech on Ways Out of the Crisis (German)
Transcript of an April
15, 2009 speech by the President of the Bundesbank on causes of the crisis,
recovery and crisis prevention, toxic assets on banks' balance sheets, reform
of European financial supervision, and monetary policy
Ben
Bernanke Speech on Four Questions About the Financial Crisis
Transcript of an April
14, 2009 speech by the Chairman of the Federal Reserve on how we got into this
crisis, what the Fed is doing to address the situation, whether the Fed's
aggressive response risks inflation in the future, and reasons the Fed and
Treasury prevented failure of large financial firms
Kevin
Warsh Speech on the Panic of 2008
Transcript of an April
6, 2009 speech by Federal Reserve Governor Kevin Warsh on current economic and
financial conditions, the fundamental reassessment of all assets taking place,
and the role of informal understandings with regard to financial institutions
in the crisis
Lorenzo
Smaghi Speech on Exchange Rate Policy and International Monetary Coordination
in the Crisis
Transcript of an April
6, 2009 speech by a member of the European Central Bank Executive Board on the
single exchange rate policy for the eurozone, institutional arrangements for
exchange rate policy in the eurozone, exchange rate developments during the
crisis, and other dimensions of international monetary coordination
Donald
Kohn Speech on Policies to Get Us Out of the Crisis and Recession
Transcript of an April
3, 2009 speech by the Vice Chairman of the Federal Reserve on the
characteristics of the crisis, the policy response, and potential policy risks
G-20 Press
Conference with Dominique Strauss-Kahn
Transcript of an April
2, 2009 press conference given by the Managing Director of the IMF on the roles
of the IMF in light of the crisis and changes being made, with questions on the
allocation of new resources, expectations for the global economy in five years,
the relationship between the G-8 and the G-20, and Chinese resource commitments
to the IMF
Transcript of a March
30, 2009 address before the Economic and Monetary Affairs Committee by the
President of the European Central Bank on economic and monetary developments,
the Structural Issues Report on housing finance, implications of the crisis for
enlarging the eurozone, and the role of the ECB in financial market supervision
Lorenzo
Smaghi Speech on Developments and Prospects for the European Economy in 2009 (Italian); English
Version
Transcript of a March
30, 2009 speech by a member of the European Central Bank Executive Board on
economic forecasts for Europe, growth of the world economy and imbalances that
contributed to the spread of the crisis, changes that need to be made in order
for sustainable growth to occur, cyclical and structural factors, and
structural reform
Duvvuri
Subbarao Speech on Managing the Impact of the Global Financial Crisis
Transcript of a March
26, 2009 speech by the Governor of the Reserve Bank of India on the global
economic outlook, the decoupling hypothesis and emerging economies, reasons for
the impact of the crisis on India and the nature of the impact, monetary and
fiscal policy responses, and the outlook for India
Lucas
Papademos Speech on Economic Recovery and Sustainable Growth
Transcript of a March
26, 2009 speech by the Vice President of the European Central Bank on central
bank policies for recovery and sustained growth, support for the banking system
and additional measures, systematic reform, and fiscal policy
Marek Belka
Remarks on Europe's Financial Future
Transcript of the IMF
European Department Director's remarks at the March 24, 2009 Belgian National
Bank Conference on financial integration in Europe, the need to modernize
financial stability frameworks so that interconnectedness does not lead to
crisis again in the future, upcoming decisions on regulatory reform, the de
Larosière Report and Turner Review, alternatives for EU-wide financial
supervision, cross-border banking, and the need for a fundamental shift in
perspective on the approach to regulation
Lucas
Papademos Speech on Strengthening Macro-Prudential Supervision in Europe
Transcript of a March
24, 2009 speech by the Vice President of the European Central Bank on lessons
of the crisis for financial supervisory policy and the framework for
macro-prudential supervision in the EU
Joint
Statement by the Federal Reserve and Treasury on the Fed's Role
Joint statement
released by the Federal Reserve and Treasury March 23, 2009 on the role of the
Fed in preserving financial and monetary stability, focusing on cooperation in
financial stability and improving credit markets, the Fed's role in avoiding
credit risk and credit allocation in its lending, the need to preserve monetary
stability, and the need for a comprehensive resolution regime for systemically
critical financial institutions
Zhou
Xiaochuan Speech on Reforming the International Monetary System
Transcript of a March
23, 2009 speech by the Governor of the People's Bank of China on how the crisis
and its spread reflect inherent vulnerabilities and systemic risk in the
international monetary system, the need to create an international reserve currency
that can maintain stability by not being attached to any national system, the
need for a greater role of the SDR, and the benefits of entrusting part of
member countries' reserves to the IMF management
Axel
Weber Speech on the Role of Forecasting for Central Banks
Transcript of a March
23, 2009 speech by the President of the Deutsche Bundesbank on the role of
forecasting in the Eurosystem, recent progress in short-term forecasting,
uncertainty and risk in macroeconomic forecasts, and current assessment of
economic development
Ben
Bernanke Speech on the Crisis and Community Banking
Transcript of the
Federal Reserve Chairman's March 20, 2009 speech before the Independent
Community Bankers of America on the Fed's actions to address the financial
crisis, current conditions and the outlook for community banks, the "too
big to fail" problem, and reducing procyclicality
Axel
Weber Speech on Questions of Reevaluation, Recovery, and Prevention in the
Financial Crisis (German)
Transcript of a March
20, 2009 speech by the President of the Deutsche Bundesbank on the causes of
the crisis, recovery measures, and lessons of the crisis
Sheila
Bair Speech Before the Independent Community Bankers of America
Transcript of a March
20, 2009 speech by the FDIC Chairman on the increased assessment rates, the new
community bank panel, hopes for an assessment cutback, TLGP income, the too big
to fail doctrine, and the importance of continued lending
Anoop Singh
Remarks on Japan's Response to Its Financial Crisis Related to the U.S. Today
Transcript of the IMF
Asia and Pacific Department Director's remarks at a March 19, 2009 IMF seminar
on parallels between the Japanese crisis and the current crisis, differences
including the size of the asset bubble, the involvement of overborrowing by
firms, immediate impact, and speed of policy response, signs that U.S. recovery
may not be as fast as indicated by differences between the two crises, the
importance of policy, and policy lessons from the Japanese crisis
Conference Call on
the IMF's G-20 Surveillance Note
Transcript of a March
19, 2009 conference call with senior IMF officials involved in the preparation
of the G-20 surveillance note, on economic projections, the slow speed of
reform policy implementation, the need for continued expansionary macroeconomic
policy, and the role of developing and emerging economies, with questions on
the new forecasts as compared to 2009 predictions, American banking efforts,
the definition of stimulus, whether the projected recovery levels still fall within
the IMF definition of a recession, the European approach to stimulus with
automatic stabilizers, whether emerging economies will go into recession,
rollover debt or maturing debt coming due this year, the locus of recovery in
2010, signs of recovery in the U.S., whether Europe and specifically Spain
should do more in terms of fiscal stimulus, U.K. stimulus figures,
country-by-country stimulus breakdowns, and signs of U.S. recovery in housing
starts
John Lipsky
Speech on Economic Shifts and Oil Price Volatility
Transcript of a March
18, 2009 speech by the First Deputy Managing Director of the IMF at the OPEC
International Seminar in Vienna on oil price volatility, the relationship
between oil price and other factors, projections for oil price, oil price
overshooting, commodity derivatives, effects of volatile oil prices, and
policies to limit volatility
Jean-Claude
Trichet Speech on Lessons of the Economic and Financial Crisis (French); English
Version
Transcript of a March
17, 2009 speech by the President of the European Central Bank on financial
excesses, the policy response, and the future outlook
Mervyn
King Speech on Financial Risk
Transcript of a March
17, 2009 speech by the Governor of the Bank of England on the nature of
financial risk and its implications for bank regulation, lessons of the crisis
for central banks, and how to deal with the current crisis
Dominique
Strauss-Kahn Speech on Africa's Growth Challenge
Transcript of a March
10, 2009 speech by the Managing Director of the IMF in Tanzania on the context
of the global crisis, the "third wave" of the crisis in developing
economies, growth in Africa prior to the crisis, the benefits of macroeconomic
stability for growth, the importance of strong governance, support from the IMF
and others, the example of Tanzania, falling demand for products produced in
Africa and decreased tourism, difficulties in financing, the forecast for
growth and human costs, current financing needs, and what the IMF and G-20 can
do to help
Ben
Bernanke Speech on Financial Reform to Address Systemic Risk
Transcript of the
Federal Reserve Chairman's March 10, 2009 speech before the Council on Foreign
Relations on the too big to fail doctrine, the need to strengthen financial
infrastructure, procyclicality in the regulatory system, and the possibility of
a systemic risk authority
Jürgen
Stark Speech on Economic Prospects and the Role of Monetary Policy in the
Crisis
Transcript of a March
9, 2009 speech by a member of the European Central Bank Executive Board on the
global economic situation, euro area activity and price developments, monetary
and financing conditions, monetary policy, and solutions for the crisis
IMF Press Briefing
on Initial Lessons of the Crisis and the State of Public Finances
Transcript of a March
6, 2009 press briefing given by the IMF Economic Counsellor and Director of
Research, the Director of the Fiscal Affairs Department, and the Director of
the Strategy, Policy and Review Department on regulatory priorities, mitigating
procyclicality, the role of macroeconomic conditions, imbalances in growth,
effectiveness of international financial architecture, reduced revenues and
increased government debt, and strategies to address these public finance
issues, with questions on the G-20 meeting, which countries have room for
fiscal stimulus, the adverse impact of fiscal deterioration, entitlement
spending, the early warning system, banking reform, whether the crisis is an
"American" crisis, regulation of hedge funds, the role of the central
banks, the relationship between different proposals, and central bank
involvement in monitoring systemic risk
Lorenzo
Smaghi Speech on Monetary Policy Easing
Transcript of a March
6, 2009 speech by a member of the European Central Bank Executive Board on
forward-looking monetary policy, when to start monetary easing, the speed of
monetary easing, and when to stop easing
Dominique
Strauss-Kahn Remarks on the Impact of the Crisis on Low-Income Countries
Transcript of a March
3, 2009 speech by the Managing Director of the IMF at the Brookings Institution
on the global economic downturn, the outlook for the poorest countries, trade
and financing problems' impact on external finances of the poorest countries,
budgetary crisis, humanitarian costs, the need to continue public spending on
areas such as health, education, and infrastructure, lack of room for fiscal
policy adjustments, need for concessional financing, the importance of free
trade, and the IMF's role
Sheila
Bair Remarks to the National Association of Attorneys
Transcript of remarks
given March 3, 2009 by the FDIC Chairman on enforcement and third parties,
subprime credit cards and payday lenders, and social security check scammers
Pamela
Cox Speech on Reinforcing the Financial Resources of IFIs to Fight the Crisis
Transcript of a March
2, 2009 speech by the World Bank Vice President for Latin America and the
Caribbean on the impact of the global crisis on Latin America, new challenges
and opportunities in 2009, key areas for action, emerging economies as part of
the solution, the IFIs' role, and the World Bank's response
Sheila
Bair Remarks to the International Institute of Bankers
Transcript of remarks
given March 2, 2009 by the FDIC Chairman on the continued relevance of Basel
II, nationalization and the need for cross-border process, the FDIC model,
cross-border issues around bank failures, and policy proposals
2009 Federal
Reserve Monetary Policy Report
Text of the Federal
Reserve's annual report to Congress on monetary policy, released February 24,
2009, including an overview of policy and the economic outlook, recent
financial and economic developments, monetary policy in 2008 and early 2009, a
summary of economic projections, and an appendix on Federal Reserve initiatives
to address the current crisis
Elizabeth
Duke Speech on the Community Reinvestment Act
Transcript of a speech
given February 24, 2009, by Federal Reserve Governor Elizabeth Duke, on the CRA
as a model for government intervention and the future of the CRA in the context
of regulatory reforms
Jean-Claude
Trichet Speech on the Future of European Financial Regulation and Supervision
Transcript of a
February 23, 2009 speech by the European Central Bank President on the current
situation and policy response, means of strengthening the financial system, and
the EU's supervisory framework
Pamela
Cox Speech on Regulatory and Market Failures
Transcript of a
February 23, 2009 speech by the World Bank Vice President for Latin America and
the Caribbean on financial markets' failures to learn from past mistakes,
supervisory mistakes, the spread of the crisis around the globe, the potential
of bailouts and stimulus packages, and modernizing the financial regulatory
framework
Jean-Claude
Trichet Speech on the European Central Bank Response to the Crisis
Transcript of a
February 20, 2009 speech by the European Central Bank President on the role of
the Eurosystem's operational framework during the period of financial market
turbulence, the ECB's response to two phases of turbulence, and cooperation
between central banks
Ben
Bernanke Speech on Policies to Ease Credit and Implications for the Fed's
Balance Sheet
Transcript of a
February 18, 2009 speech by the Chairman of the Federal Reserve at the National
Press Club Luncheon on Fed policy during the crisis, Fed policies and the
balance sheet, credit risk, and transparency
Elizabeth
Duke Speech on Stabilizing the Housing Market, Focusing on Communities
Transcript of a
February 16, 2009 speech by Federal Reserve Governor Elizabeth Duke on
community banking and banking principles, current weakness in the housing markets,
means of addressing these problems, foreclosure prevention, and reducing costs
of foreclosure
Jean-Claude
Trichet Speech on Macroeconomic Policies and Imbalances (English
with French and German Introductions)
Transcript of a
February 16, 2009 address to the European Parliament by the European Central
Bank President on roots of the crisis and recommendations for the future
including regulation, macroeconomic policy, and the role of international
institutions
Takatoshi Kato
Speech on Implications of the Crisis for Asia
Transcript of a
February 14, 2009 speech by the Deputy Managing Director of the IMF at the
Harvard Asia Business Conference in Boston on myths about Asian economies, the
economic outlook, policy recommendations, and the IMF's role
José
Manuel González-Páramo Speech on Lessons and Challenges of the Crisis (Spanish)
Transcript of a
February 12, 2009 speech by a member of the European Central Bank Executive
Board on the crisis in the financial markets, responses of the Eurosystem
through three crisis phases, and lessons of the crisis
Lorenzo
Smaghi Speech on EU Regulation and Supervisory Architecture
Transcript of a
February 12, 2009 speech by a member of the European Central Bank Executive
Board on financial market developments, European supervisory shortcomings,
recommendations, institutional models for European supervision, and the
possibility of a stronger role for the ECB
Elizabeth
Duke Speech on Stabilizing the Housing Market, Focusing on Next Steps
Transcript of a
February 11, 2009 speech by Federal Reserve Governor Elizabeth Duke on current
weakness in the housing markets, addressing these problems, foreclosure
prevention, and reducing costs of foreclosure
Lucas
Papademos Speech on Policies for Financial Stability and Recovery from the
Crisis
Transcript of a
February 11, 2009 speech by the European Central Bank Vice President on
policies to preserve stability, restore confidence, foster economic recovery,
and reduce procyclicality
Financial
Stability Plan Fact Sheet
Fact sheet provided by
U.S. Treasury Secretary Timothy Geithner along with his February 10, 2009
testimony to Congress, detailing the elements of the proposed Financial
Stability Plan
Dominique
Strauss-Kahn Speech at the SEACEN Governors' Conference
Transcript of a
February 7, 2009 speech by the Managing Director of the IMF at the 44th SEACEN
Governors' Conference in Kuala Lumpur on the current state of the global
economy and the IMF's current forecasts, the need for a global response,
methods to make markets more stable, means of restoring aggregate demand,
examples of action in Asia, the IMF's support so far for countries in need of
assistance and the strategy going forward, and preventative policies to avoid a
future crisis
José Manuel
González-Páramo Speech on Financial Market Failures and Public Policies
Transcript of a
February 6, 2009 speech by a member of the European Central Bank Executive
Board on events of the crisis, underlying causes, liquidity policies, monetary
policies, fiscal policies, regulatory reforms, reasons for central bank actions
in these areas, the possibility of more international convergence in liquidity
frameworks, the possibility of more direct lending to the real economy, the
possibility of more coordination on domestic policy and international monetary
policy, the possibility of giving more weight to asset prices in monetary
policy, and the possibility of increased central bank involvement in
supervision
Takatoshi Kato
Speech on the Meaning of the Crisis for Sub-Saharan Africa
Transcript of a
February 3, 2009 speech by the Deputy Managing Director of the IMF at the
Twelfth African Union Summit on the expected halt of the global economy and
need for a corresponding global policy response, the expected effects of the
crisis on Africa, specific policy challenges that the global economic crisis
presents for Africa, and the Fund's commitment to financing and technical
assistance in Africa, as well as policy guidance
IMF Asia Press
Briefing on Global Outlook Updates
Transcript of a
February 2, 2009 press conference with the IMF Managing Director and the
Director of the IMF Asia and Pacific Department on global economic figures and
policy priorities, the effect of the crisis on Asia, and China's approach to
the crisis, with questions on what will drive recovery for Asia in 2010,
China's valuation of its currency, China's contribution to IMF resources,
global trade, the timing of recovery for Asian countries, domestic demand in
East Asia, the scope for infrastructure spending, unemployment among migrants
from less-developed countries in the region, the Chinese Premier's eight
percent growth target, the forecast for the Philippines, IMF reform, the impact
on countries like Cambodia that rely on external financing, the forecast for
South Korea, and criticisms of IMF forecasting
Nout
Wellink Speech on the Future of Financial Supervision
Transcript of a
January 29, 2008 speech given by the Chairman of the Basel Committee on Banking
Supervision and President of the Netherlands Bank on principles for effective
banking supervision, current areas of focus, capital adequacy, and sound
standards and effective implementation
Press Conference on
IMF World Economic Outlook and Global Financial Stability Report Updates
Transcript of a
January 28, 2009 press conference with the IMF Economic Counselor and Director
of Research, Financial Counselor, Deputy Director of the Monetary and Capital
Markets Department, and Deputy Director of the Research Department, on revised
growth forecasts reflecting a global standstill in 2009, differences between
advanced and emerging economies, macroeconomic policy recommendations,
expectations for 2010, risks of the forecasts, credit risks, funding gaps
between central bank liquidity provision and bank lending, emerging market
risks, and international coordination with questions on determining bank
solvency, growth in China, the situation in Africa, poverty levels, toxic
assets, the decrease in the forecast for Latin America, Australian growth,
President Obama's stimulus in the U.S., the breakdown of credit deterioration,
reasons for a sharp recent decline in the global economy, the low inflation
forecast for 2010, the sharp change in the Russia forecast, and government
bailouts for the auto industry
Gertrude
Tumpel-Gugerell Speech on the Financial Crisis
Transcript of a
January 22, 2009 speech by a member of the European Central Bank Executive
Board on developments in financial markets, responses of public authorities,
and the future outlook
Transcript of a
January 21, 2009 hearing of the European Central Bank President before the
European Parliament's Economic and Monetary Affairs Committee on economic and
monetary developments, medium-term price developments and disinflation, and
international financial architecture
Jean-Claude
Trichet Speech on (Under-)Pricing of Risks in the Financial Sector (French); English
Version
Transcript of a
January 19, 2009 speech by the European Central Bank President on under-pricing
of risk, important factors for reform, and first lessons from the current
crisis
José Manuel
González-Páramo Speech on Liquidity, Funding and Solvency Policy Responses and
Lessons
Transcript of a
January 16, 2009 speech by a member of the European Central Bank Executive
Board on financial market turmoil, policy responses from the Eurosystem through
three phases of turmoil, and lessons from the turmoil
G-30
Report on Financial Reform
Document published by
the Group of Thirty on January 15, 2009 to address regulation of financial
institutions throughout the world and the nature of financial reform in general
Ben
Bernanke Speech on the Crisis and the Policy Response
Transcript of a
January 13, 2009 speech by the Chairman of the Federal Reserve at the London
School of Economics on the Fed's response to the crisis, the Fed's policy
toolkit, credit easing versus quantitative easing, the exit strategy, and
stabilizing the financial system
Jean-Claude
Trichet Remarks on a Paradigm Change for the Global Financial System (French); English
Version
Transcript of a
January 9, 2009 speech by the European Central Bank President on the global
nature of the crisis, reactions to the crisis, banking models, regulatory
responses to bank failures, and recommendations for reform
Jean-Claude
Trichet Speech on Reflections on the Financial Turmoil (French)
Transcript of a
December 23, 2008 speech by the European Central Bank President on the role of
the Eurosystem's operational framework during the period of turmoil in capital
markets and the implications for central banks and regulatory/supervisory
authorities
John Lipsky
Speech on Crisis Lessons for the IMF
Transcript of a
December 17, 2008 speech by the First Deputy Managing Director of the IMF at
the Council on Foreign Relations on short-term economic outlook, the IMF's role
in the financial crisis, the operation of the IMF in a crisis, long-term
priorities for the institution following the crisis, and governance of the
international financial system
Sheila
Bair Speech on Whether Low-Income Homeownership Went Too Far
Transcript of a
December 17, 2008 speech by the FDIC Chairman on the CRA as a scapegoat, the
need to make the housing crisis a regulatory priority, the promise of loan
modifications, and the importance of affordable mortgages
Dominique
Strauss-Kahn Speech on the Future of the IMF
Transcript of a
December 15, 2008 speech by the Managing Director of the IMF in Spain on
short-term priorities for the IMF and governments in response to the financial
crisis, proposals in the areas of market stability, global demand, and
financial support to countries, and policies that the IMF can adopt in the
long-term to focus on avoiding a future crisis
Transcript of a December
15, 2008 speech by the Managing Director of the World Bank on the global
crisis, its impact on East Asia, protecting the poor and vulnerable, the impact
of the crisis on Indonesia, positioning Indonesia for recovery, and the World
Bank's role
Dominique
Strauss-Kahn Speech on the Global Economy in Jamaica
Transcript of a
December 10, 2008 speech by the Managing Director of the IMF in Jamaica on the
current economic situation and IMF projections, policy responses and asymmetric
focus on monetary policy, the unique challenge for emerging economies, the
impact on the Caribbean and Jamaica in particular, and the IMF's role in
assisting countries in response to the crisis
John Lipsky
Speech on the 2009 Global Macroeconomic Outlook
Transcript of a
December 10, 2008 speech by the First Deputy Managing Director of the IMF on
the forecast for the global economy, insufficiency of actions already taken to
curb the decrease in global output, the need for a sustainable fiscal response,
the access of emerging economies to external financing, and structural needs
for financial reform
Lorenzo
Smaghi Speech on the Financial Crisis and Global Imbalances
Transcript of a
December 9, 2008 speech by a member of the European Central Bank Executive
Board on the global crisis and policy responses
Donald
Kohn Speech on Restoring Financial Intermediation by Banks
Transcript of a brief
speech given by the Vice Chairman of the Federal Reserve on December 8, 2008
addressing banks' role as intermediaries in the crisis, bank losses and funding
concerns, the role of regulators in providing funding to banks and issuing
regulatory guidance, the importance of broad steps to stabilize markets, and
the need to address the housing and mortgage markets
Randall
Kroszner Speech on Assessing the Potential for Instability in Financial Markets
Transcript of a speech
given by Federal Reserve Governor Randall Kroszner December 8, 2008 on the
conceptual framework for market organization, how to assess recent market
performance, and improving banks' risk management
Jean-Claude
Trichet Remarks on the Financial Turmoil
Transcript of remarks
given by the European Central Bank President December 8, 2008 on the funding
conditions of banks, recapitalization of banks, and key challenges to prevent a
future crisis
Randall
Kroszner Speech on Improving Infrastructure for Non-Agency Mortgage Backed
Securities
Transcript of a speech
given by Federal Reserve Governor Randall Kroszner December 4, 2008 on the
conditions of the housing market, conditions needed for private-label MBS, the
benefits of mortgage securitization, the involvement of the GSEs, the need for
greater transparency for private-label MBS to work, and the role of investor
confidence
Ben
Bernanke Speech on Housing, Mortgage Markets, and Foreclosures
Transcript of a
December 4, 2008 speech by the Chairman of the Federal Reserve on developments
in housing, housing finance, and foreclosure prevention
Randall
Kroszner Speech on the CRA and the Recent Mortgage Crisis
Transcript of a December 3, 2008 speech by Federal Reserve Governor Randall
Kroszner on a recent poverty report, the Fed's Community Affairs Program,
regulatory efforts to meet credit needs in underserved markets, and evidence on
the CRA and the subprime crisis
Ben
Bernanke Speech on Federal Reserve Policies in the Financial Crisis
Transcript of a
December 1, 2008 speech by the Chairman of the Federal Reserve on Fed policies
during the crisis, the economic outlook, and the outlook for policy
Lorenzo
Smaghi Speech on Restarting the Interbank Market
Transcript of a
December 1, 2008 speech by a member of the European Central Bank Executive
Board on the importance of the interbank market for monetary policy, the
creation and restarting of an interbank market, reviving the interbank market
in practice, and further steps and related issues
Lorenzo
Smaghi Speech on Deflation
Transcript of a
November 25, 2008 speech by a member of the European Central Bank Executive
Board on the definition of deflation, other phenomena that are commonly
mislabeled as deflation, detecting deflation, and the strategy and
implementation of monetary policy related to deflation
Lorenzo
Smaghi Speech on Restoring Confidence
Transcript of a
November 25, 2008 speech by a member of the European Central Bank Executive
Board on problems of terminology, options for recovery, the relationship
between state and markets, the role of confidence in the crisis thus far, the
relationship between confidence and policy, the function of policy, capital
injections, and necessary characteristics of recapitalization
Transcript of a
November 24, 2008 speech by the World Bank Vice President for Human Development
on current statistics and the effect of the crisis on fighting poverty, World
Bank financial support, policy advice and technical support, and partnerships
José
González-Páramo Speech on the Financial Crisis, Uncertainty, and Policy
Responses
Transcript of a
November 21, 2008 speech by a member of the European Central Bank Executive
Board on financial market turmoil, the role of uncertainty, challenges to and
policy responses from central banks, responses of the Eurosystem, increased
international cooperation and financial intermediation, and recent coordinated
initiatives
Conference Call on
the IMF Approval of a Standby Agreement for Iceland
Transcript of a
November 20, 2008 conference call with the IMF Mission Chief for Iceland and
Deputy Director in the European Department and a Senior Economist in the
European Department on the situation in Iceland, the dangers it presents, the
IMF's response, plans to stabilize the Icelandic krona, monetary policy
recommendations, the viability of the currency, fiscal policy, the IMF's future
role in Iceland's economic planning, the cost to Iceland of the IMF loan, the
relationship between the IMF agreement and government loans, Russia's
participation in funding the loan, the risks of the agreement, and the
breakdown of the money needed through 2010
Donald
Kohn Speech on Monetary Policy and Asset Prices
Transcript of a
November 19, 2008 speech by the Vice Chairman of the Federal Reserve on
strategies for addressing asset price bubbles, the potential gain from limiting
bubbles, how to identify bubbles in a timely manner, and the ability of
monetary policy to influence bubbles, with attached bibliography
Jürgen
Stark Speech on Monetary, Fiscal, and Financial Stability in Europe
Transcript of a
November 18, 2008 speech by a member of the European Central Bank Executive
Board on origins of the crisis, responses to the crisis in Europe, and
preventing crisis through incentives
John Lipsky Speech
on a Post-Crisis World Economy
Transcript of a
November 17, 2008 speech by the First Deputy Managing Director of the IMF at
the Johns Hopkins SAIS school on the G-20 summit, the approach for and
importance of the upcoming months, the current state of the economy and IMF
growth projections, the expectation that advanced economies will contract in
2009 for the first time as a group since World War II, expectations for
emerging economies, the need to use monetary and fiscal policy to sustain
global demand, emerging economies' struggle to avoid a solvency crisis, the
need for an improved regulatory structure, the need for a better means of
measuring systemic risk, the need for mechanisms to drive coordinated action in
the event of a crisis like the present one, the G-20 action plan, and the role
of the IMF in addressing the crisis
Nout
Wellink Speech on the Importance of Banking Supervision in Financial Stability
Transcript of a
November 17, 2008 speech by the Chairman of the Basel Committee on Banking
Supervision and President of the Netherlands Bank on the background of the
crisis, emerging lessons, and the Committee's responses including strengthening
capital buffers, strengthening liquidity risk management and buffers,
strengthening risk management practices, strengthening counterparty credit risk
practices, strengthening bank resolution and cross-border bank supervision, and
strengthening the system-wide approach to supervision
IMF Press Conference
at the G-20 Summit
Transcript of a
November 15, 2008 press conference with the IMF Managing Director, First Deputy
Managing Director, and Director of External Relations at the G-20 summit on the
significance of the summit, policy options, the need for a fiscal stimulus, IMF
aid to countries, reform of the global financial system, the Financial Sector
Assessment Program, the philosophy of IMF forecasts, global governance on financial
matters, the role of the IMF, China's role, the IMF's talks with Turkey, and
the possibility of increasing representation in the IMF
Zhou
Xiaochuan Speech on Changing Procyclicality for Financial and Economic
Stability
Transcript of a
November 15, 2008 speech by the Governor of the People's Bank of China on
procyclical features built into the financial architecture, ratings problems
and the herding phenomenon arising from outsourcing, fair value accounting,
mark-to-market, and mark-to-model, the IRB approach under Basel II, the need to
give authorities who regulate financial stability full play and establish a
counter-cyclical mechanism for capital requirements, and China's financial
sector and ongoing stimulus measures
Ben
Bernanke Speech on Policy Coordination Among Central Banks
Transcript of a
November 14, 2008 speech by the Chairman of the Federal Reserve on the euro,
international coordination, financial stability, the novelty of monetary policy
coordination among central banks, similarities in alternative responses to the
crisis around the world, the need for coordination in light of demand for
dollar funding, and the importance of central bank coordination to provide
liquidity
Jean-Claude
Trichet Speech on International Interdependencies and Monetary Policy
Transcript of a brief
November 14, 2008 speech by the European Central Bank President on
international policy cooperation, one thesis on market integration, the
importance of fluctuating risk aversion, and central bank cooperation
Jean-Claude
Trichet Speech on Undervalued Risk and Uncertainty
Transcript of a
November 13, 2008 speech by the European Central Bank President on risk in the
period immediately preceding the crisis, undervalued risks and assumptions
involved in risk assessment, and the need for long-term thinking, transparency,
and solutions to procyclicality
Inter-Agency
Statement on Meeting the Needs of Creditworthy Borrowers
Statement released
November 12, 2008 by the Treasury Department, the FDIC, and the Federal Reserve
to address bank lending practices, the importance of capital planning,
cooperation between banks and mortgage borrowers, and compensation structure
Donald
Kohn Speech on Productivity and Innovation in Financial Services
Transcript of a
November 12, 2008 speech by the Vice Chairman of the Federal Reserve on the
financial sector, economic activity, and challenges for central banks
Antoinette M.
Sayeh Speech on How the Global Financial Crisis Affects Sub-Saharan Africa
Transcript of a speech
by the Director of the IMF's Africa Department at the November 6-7, 2008
Conference on Financial Institutions on Second Generation Financial Sector
Reforms, on the impact of the financial crisis on global growth, the impact on
emerging economies, the specific impact on sub-Saharan Africa, signs of
resilience in the region, and policy recommendations
Press Conference on
the IMF Approval of a Standby Agreement for Ukraine
Transcript of a
November 6, 2008 press conference with the IMF Mission Chief and Deputy Mission
Chief for Ukraine and the Deputy Division Chief of IMF Media Relations on the
Ukraine Standby Agreement addressing the Ukrainian economy, the basis for the
standby program, economic projections, the policies that Ukraine will adopt to
go along with the standby agreement, the risk of defaults, the expected
timeline for recovery, and exchange rate policy
Press Conference on
the IMF Approval of a Standby Agreement for Hungary
Transcript of a
November 6, 2008 press conference with the IMF Mission Chief for Hungary and
Division Chief in the European Department on the Hungarian economic background,
the focus on fiscal and banking sectors, additional financing, the size of
Hungary's public sector relative to GDP, means of reducing the public debt and
decreasing expenditures, changes to pensions, market impact of the announcement,
stability of the exchange rate, and short-term conditions on the loan
Press Conference on
World Economic Outlook
Transcript of a
November 6, 2008 press conference with an IMF Economic Counselor and Director
of Research and the Chief of the IMF World Economic Outlook Studies Division on
the reasons for revising the 2009 outlook, the principal risks facing today's
economy, the role of policy, the limits of deflationary risk, central bank rate
cuts, the historical significance of current contraction of advanced economies,
the effects of IMF efforts to provide liquidity to emerging markets,
projections for China, Brazil, Italy, Germany, Spain, and Australia, the
definition of recession, and the role of fiscal policy
Kevin
Warsh Speech on the Promise and Peril of the New Financial Architecture
Transcript of a
November 6, 2008 speech by Federal Reserve Governor Kevin Warsh on expected
regulatory reform, the nature of financial market turmoil, the response of
financial institutions, and the official response
Ben
Bernanke Speech on the Future of Mortgage Finance in the U.S.
Transcript of an
October 31, 2008 speech by the Chairman of the Federal Reserve on the mortgage
market and mortgage securitization in the crisis, the future of the GSEs, and
alternative approaches to the link between the mortgage market and the capital
markets
Justin
Lin Speech on the Impact of the Financial Crisis on Developing Countries
Transcript of an
October 31, 2008 speech by the World Bank Senior Vice President and Chief
Economist on the investment-led boom in the developing world, the collapse in
advanced economies and its effect on developing countries, the global outlook,
policy responses by developed and developing countries and IFIs that can limit
damage, and recommendations, with bibliography
Press Conference on
the New IMF Short-Term Liquidity Facility
Transcript of an
October 29, 2008 press conference with the IMF First Deputy Managing Director
and External Relations Department Senior Advisor announcing the creation of a
Short-Term Liquidity Facility to support countries in need of liquidity during
the global financial crisis despite good policies and addressing eligibility
for the new facility, the amount of money available, loan conditions, the IMF's
ability to act quickly in response to a crisis situation, the situation in
Iceland, the difference between this and other loan facilities, and the need
for greater support from countries
John Lipsky
Speech on Global Prospects and Policies in the Financial Crisis
Transcript of an
October 28, 2008 speech by the First Deputy Managing Director of the IMF at the
Securities Industries and Financial Markets Association on the global financial
crisis, focusing on the current expectations of the financial crisis, the
importance of macroeconomic policy to addressing the roots of the crisis and
the dangers of inaction, the need for a comprehensive global response, the
impact on emerging economies, the role of risk and need for regulation, the
importance of restoring confidence, and the IMF's role in the response
Randall
Kroszner Speech on Strategic Risk Management
Transcript of an
October 20, 2008 speech by Federal Reserve Governor Randall Kroszner on recent
events in the financial markets and the framework for strategic risk management
Lorenzo
Smaghi Speech on Lehman Brothers
Transcript of an
October 20, 2008 speech by a member of the European Central Bank Executive
Board on the failure of Lehman Brothers and why it was not prevented, with
suggestions for avoiding such an event in the future
José
González-Páramo Speech on Liquidity, Financial Markets, and the Economy
Transcript of an
October 16, 2008 speech by a member of the European Central Bank Executive
Board on events in the crisis to date, international transmission of liquidity
shocks and liquidity spirals, and some of the policy responses taken by central
banks, governments, and supervisors/regulators
Ben
Bernanke Speech on Stabilizing the Financial Markets and the Economy
Transcript of an
October 15, 2008 speech by the Chairman of the Federal Reserve on the
uniqueness of the current crisis, developments in the crisis and the Fed's
response, the Fed's approach to failing financial institutions, actions to
address liquidity problems, the TARP program, additional steps needed, and
international cooperation
Donald
Kohn Speech on the Economic Outlook
Transcript of an
October 15, 2008 speech by the Vice Chairman of the Federal Reserve on growing
turmoil in financial markets, economic indicators, foreign economies, other
developments, deteriorating growth, U.S. actions to combat the crisis, specific
Federal Reserve actions, and predictions
Jean-Claude
Trichet Speech Analyzing the State of the Financial Crisis
Transcript of an
October 14, 2008 speech by the European Central Bank President on responses of
central banks to the crisis thus far, and the implications of the crisis for
central banks, financial regulators, and supervisors
Dominique
Strauss-Kahn Remarks to the Board of Governors of the IMF at the Joint Annual
Discussion
Transcript of the IMF
Managing Director and Chairman of the Executive Board's October 13, 2008
remarks at meetings between the IMF and World Bank Group in Washington on the
need for international cooperation, the need for a quick and creative response,
principles for government intervention, macroeconomic policy, the needs of
emerging economies and developing nations, necessary structural changes, and
possible IMF reform
Guido Mantega Press
Briefing on G-20 Meeting
Transcript of an
October 11, 2008 press briefing by the G-20 Chairman following the G-20 meeting
in Washington on the need to rethink the G-20 to make it more effective in
addressing the global financial crisis, the reasons for greater international
cooperation, the significance of Bush's involvement with the G-20, the need for
US support, the nature of the crisis in emerging economies, steps emerging
economies need to take regarding their banking systems, the problem of capital
flight, the effects of the crisis on the poor, reactions within the G-20 to
Mantega's reform proposal, the Brazilian economy, and Russia's role in the
coordinated response
Dominique
Strauss-Kahn Speech on the Euro's Tenth Anniversary
Prepared remarks of
the IMF Managing Director and Chairman of the Executive Board for an October
10, 2008 speech on the occasion of the Euro's tenth anniversary, discussing
principles for government action in response to the financial crisis, long-term
effects of the crisis on Europe, the US, and emerging economies, the food and
fuel crisis, and the lessons learned about regulation and financial
architecture
Press Conference
with IMF Officials on the Financial Situation
Transcript of an
October 11, 2008 press conference with the IMF Managing Director, First Deputy
Managing Director, and External Relations Director addressing the growing
financial crisis, principles for addressing the crisis, growth expectations,
policy advice to governments, the need for regulation, the role of the IMF as a
link between financial institutions, the need for immediate and coordinated
action, the need to go beyond the G-7, the IMF's emergency procedure,
expectations for Brazil and China, sub-Saharan Africa's lack of response to the
crisis, and the IMF's lending capabilities
Ben
Bernanke Remarks on Current Economic and Financial Conditions
Transcript of the
Chairman of the Federal Reserve's October 7, 2008 remarks on stressed financial
systems in the U.S. and around the world including emerging economies,
financial developments, the Fed's philosophy on financial institution failures,
the cases of the GSEs, Lehman, and AIG, pressure on depository institutions,
threats to economic growth, expanded lending, economic projections, and the
TARP program
Jean-Claude
Trichet Speech on Lessons of the Financial Market Correction (German); English
Version
Transcript of a
September 30, 2008 speech by the European Central Bank President on the
European Central Bank's reactions regarding management of the money markets and
lessons for financial stability and supervision
John Lipsky
Speech on the Global Economy and Financial Crisis
Prepared remarks of
the First Deputy Managing Director of the IMF for a September 24, 2008 speech
on the financial crisis, focusing on worldwide slowing of growth paired with
inflation, the interrelation of financial crisis, housing downturn, and
commodity prices, the elements of the financial crisis, factors that indicate a
possible recovery, and specific policy challenges
Ben
Bernanke Speech on Reducing Systemic Risk
Transcript of an
August 22, 2008 speech by the Chairman of the Federal Reserve on strengthening
financial infrastructure and a systemwide approach to supervisory oversight
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