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— Joseph Stiglitz"They [political leaders ] thought the only problem was the banking system, and if they fixed the banking system, all would be fine. But the banking system and the mortgage problem were symptomatic of some deeper problems, and evidently they still haven't recognized those deeper problems."
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Italy is the fourth-largest economy in Europe and the eighth-largest economy in the world, and its banking system is collapsing. And Germany is desperate. It must maintain its standard of living. It can only do that with exports and Deutsche Bank is very exposed to Italian debt. But so is the rest of Europe.
— George Friedman
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In Africa it's difficult to carry the money, it's difficult to have a banking system with tellers, with distribution of cash. So they are using their mobile phones.
— Maurice Levy
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