12 October 2009 The financial crisis left major banks crippled
by toxic assets and short of capital, while lenders became less
willing to finance business and private projects. The immediate
and potential impacts on the banking system and the real economy
lead governments to intervene massively. These interventions
helped to avoid systemic collapse and stabilise the global
financial system. This book analyses the steps policy makers now
have to take to devise exit strategies from bailout programmes
and emergency measures. The agenda includes reform of financial
governance to ensure a healthier balance between risk and
reward, and restoring public confidence in financial markets.
The challenges are enormous, but if governments fail to meet
them, their exit strategies could lead to the next crisis.
Earlier versions of this report were presented at the London G20
meeting in April and the Paris OECD Ministerial meeting in June.
Table of contents Summary of Main Themes Exit Strategy
Principles II. Priorities for R