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The Bank in turn and quite rightly criticises the politicians for their failure to push through the needed restructuring of the economy.
Even if the needed restructuring had taken place, financial structures tend to move slowly and the reform agenda has built in rather generous implementation schedules, in part to allow the economy to recover.
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"In paper chemicals, we will intensify the urgently-needed restructuring process and become the leading supplier with an extensive portfolio," BASF said.
Meanwhile, excessive regulation of business and labor made needed restructuring nearly impossible.
The outcome of the 1990s depression was a much-needed restructuring.
The Bold Prediction The success of low-cost airlines such as JetBlue and Southwest may finally be used as a template for a much-needed restructuring of the bloated national carriers.
His uninspiring approach to much-needed restructuring and inability to move the company into higher-value activities eroded investors' confidence.In particular, Mr Prescott is blamed for the disastrous acquisition of Arizona-based Magma Copper in December 1995 for A$3.2 billion ($2.4 billion).
MYTH #4: Allowing the U.S. Postal Service to default will simply force much-needed restructuring and reform.
Another positive note that few have spotted is that much-needed restructuring has occurred among Japanese companies; at the same time, exports over the past year are up 37%.
Compounding the problem, many of the biggest debtors are also among the country's biggest employers, making it politically difficult to force much-needed restructuring.
But for the industry most directly affected, the airlines, the bin Laden excuse risks turning into a reason to justify unwise bail-outs and postponement of much-needed restructuring.The world's airlines are in far worse shape now than they were even during the Gulf war in 1990-91.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com