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Exact(24)
For effect, they require a properly functioning banking system.
"Without a functioning banking system, things will get much worse on Main Street," Paulson countered.
But he added, "That is different than having a well, fully functioning banking system".
A functioning banking union severs the link, it stops deposit flight and it makes monetary policy work better.
Without a functioning banking system across the whole of Europe, business investment will remain flat and growth weak.
On an official visit in Moscow, the I.M.F.'s managing director, Horst Köhler, also urged the Russian government to fix its poorly functioning banking system.
Similar(36)
But he insisted that the government was committed to setting up a fully functioning bank.
He repeatedly mentioned, for instance, "the importance of a functioning bank system" and a "very crystal clear idea of the practice of the rule of law".
This posed a challenge: he needed to pay for everything in cash, because Libya lacked functioning banks, and the wartime rates at the Tripoli Radisson were exorbitant.
Lacking the alternative of a functioning bank system, 85,000 Afghans have borrowed money or set up savings accounts with 12 microfinance groups.
Unfortunately, we were not particularly successful at extending the range of measurement for the physical functioning banks.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com