Its government essentially balanced the budget in 2007 and 2008 after years of deficit spending, according to the International Institute of Finance.
As the moment of decision arrived for banks and hedge funds, it was no surprise yesterday that European officials were busy handing out a report prepared by the Institute of International Finance, the body negotiating on behalf of some of the investors.
The Institute of International Finance, a bankers' group, expects a 30% decline in net flows of private capital from last year.
The Institute of International Finance said a second bail-out "will buy some time but will still leave Greece's debt sustainability probably unresolved".
Charles Dallara, who heads the Institute of International Finance said the consequences of Greece leaving the single currency were "somewhere between catastrophic and Armageddon'".
The Institute of International Finance believes 90% of banks will agree.
Other forecasters, such as the Washington-based Institute of International Finance, which represents banks and other institutional investors, also expect private capital flows in 1999 to remain close to their levels of 1998.
According to a survey of industry practices published by the Institute of International Finance (IIF) in March, many banks still fail to use risk-adjusted measures either to calculate the size of their bonus pool or to allocate it.
The Institute of International Finance, which is backed by the big banks, predicts such rules will raise lending rates between four and five percentage points in America, depressing GDP by a cumulative 2.7% by 2015 and employment by 2.9m.
"There's a vicious circle here where each is waiting for the other to do the right thing, " Bank of Canada Gov. Mark Carney said at a conference for the Institute of International Finance, a banking group, alongside the G-20 meeting.
Webman, a Yale economist, just returned from New Delhi for the three-day series of spring meetings of the Institute for International Finance (IIF).
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Charles Dallara, managing director of the Institute for International Finance, along with Jean Lemierre, a senior adviser to BNP Paribas SA, left the prime minister's office soon after the meeting with the party leaders ended without making any statements.
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Russian Finance Minister Alexei Kudrin told a gathering of political appointees and economists at the Peterson Institute for International Economics last week that Russia was not complacent in the Putin years.
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