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In youth, he'd seen capital punishment as barbaric.
"We have not seen capital levels like this since the 1930s".
However, it downgraded its growth forecasts for some emerging-market economies, which have seen capital outflows in recent months.
Crisis management has already seen capital spending – central to many service changes – deferred or cut at the government's behest.
Never before had the world seen capital flight on such a scale and speed, causing financial markets and economies to collapse.
The prospect of that tap being turned off has already seen capital pouring out of emerging markets and currencies, potentially exposing underlying weaknesses in economies that have been flourishing on a ready supply of cheap credit.
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(See capital gains tax).
For full treatment, see capital and interest.
"We're still seeing capital spending flat to going lower".
The Greek economy will benefit from lower yields but might still see capital flight.
"You will see capital spending come back," he said, "but with a lag".
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