The moment a large investor doesn't believe a government will pay back its debt when it says it will, a crisis of confidence could develop. Investors have scant patience for the years of good governance - politically fraught fiscal restructuring, austerity and debt rescheduling - it takes to defuse a sovereign-debt crisis.
I don't think that any person can fix FEMA. I think FEMA needs a total restructuring. I think it needs to be taken from scratch and redone. The regulations are outdated; the rules are outdated.
The political restructuring we pursue in China is aimed at advancing the self-improvement and development of the socialist political system. We will continue to expand people's democracy and build a socialist country under the rule of law in keeping with China's national conditions.
The whole of government needs to contribute to the shared goal of restructuring the British economy. But that means taking on the myth that the Treasury either knows best or can run it all. It just doesn't.
My father was criticized as a dictator, but that should not overshadow his accomplishments in restructuring the country. He brought Korea out of 5,000 years of poverty. What he left unaccomplished was democratization of the system.
Greece will not manage to get back on its feet without restructuring its debt. There is no way around it. The country's creditors will have to reduce a portion of its debts by extending maturity dates, lowering interest rates or giving them what's called a 'haircut' in financial jargon.
A beautiful deleveraging balances the three options. In other words, there is a certain amount of austerity, there is a certain amount of debt restructuring, and there is a certain amount of printing of money. When done in the right mix, it isn't dramatic.
Let's form proactive synergy restructuring teams.
I see myself as a private-equity investor that helps rebuild companies. Restructuring is a cottage industry in that there aren't that many serious practitioners.
Lot of companies are looking for advisory work on business strategy, restructuring work.