A Quote by Edmund Phelps

No amount of debt restructuring, even debt forgiveness, will help the Greeks achieve real prosperity. What they need is not short-term relief but, rather, a long-term cure.

Edmund Phelps

Quote Topics

Forgiveness Achieve Amount Cure Debt Even Greeks Help Long Long-Term Need Prosperity Rather Real Relief Restructuring Short Short-Term Term Will

Quote Author

Edmund Phelps
American - Economist
Born: July 26, 1933

All the central banks are doing is substituting one form of debt with another form of debt. They're issuing short term debt and using it to buy long term debt. In finance, we tend to think that's a neutral activity, even though those stimulus programs are huge.

Eugene Fama

I do not like debt and do not like to invest in companies that have too much debt, particularly long-term debt. With long-term debt, increases in interest rates can drastically affect company profits and make future cash flows less predictable.

Warren Buffett

The thing that I learned early on is you really need to set goals in your life, both short-term and long-term, just like you do in business. Having that long-term goal will enable you to have a plan on how to achieve it.

Denise Morrison

Let's adopt some short-term strategies to get growth going and then let's have a long-term debt reduction package. That's what I think we should do and I think it will work.

William J. Clinton

The Canadian debt-to-GDP ratio will continue to decrease every year, including the first three years under the Liberal government. That is what we're focused on. We know we need to invest in the kind of long-term growth and short-term job creation that Canadians expect, and Liberals the only party offering to do that.

Justin Trudeau

Long term debt and bank debt (including off-balance sheet financing must be judiciously employed. There must be room to expand the debt position if required.

Peter Cundill

The most important thing that a company can do in the midst of this economic turmoil is to not lose sight of the long-term perspective. Don't confuse the short-term crises with the long-term trends. Amidst all of these short-term change are some fundamental structural transformations happening in the economy, and the best way to stay in business is to not allow the short-term distractions to cause you to ignore what is happening in the long term.

Paul Saffo

Denise Morrison

If you have a lot of short-term debt, it means that all of that money can be demanded in a very short period of time. Technically, short-term debt means money that's coming due within a year. Typically, it means money that's coming due within 30 to 90 days.

Jeffrey Sachs

In the early 1980s, the government of New Zealand fell into the hands of true believers, globalist believers, and they embraced the theory of inevitability perhaps more completely than anybody else. And it solved in the very short term some of their debt problems, but in the medium- and long-term, it left them in real economic trouble.

John Ralston Saul

I've got a chart here that shows our debt-to-GDP ratio. And while we did run deficits in the past, we now number our debt in trillions rather than in billions. And I think that represents a long-term danger, especially to the, the American dream.

Mark Kirk

Recognize that millennials' personal long-term goals may have nothing to do with their organizations' long-term goals. Discover and facilitate their long-term goals, and they will be more inclined to help their organizations achieve success.

Bill Capodagli

I think everybody knows that Africa is in a very deep crisis. There is economic misery and social deprivation and that Africa needs help but the question then is how. And also we have to make sure that we don't repeat old mistakes; this help is only short term. It doesn't address Africa's long-term fundamental needs and how to put Africa on the right track to development. What Africa needs to do is to grow, to grow out of debt.

George W. Bush

The Bible is clear about two principles: (1) We always need to forgive, but (2) we don’t always achieve reconciliation. Forgiveness is something that we do in our hearts; we release someone from a debt that they owe us. We write off the person’s debt, and she no longer owes us. We no longer condemn her. She is clean. Only one party is needed for forgiveness: me. The person who owes me a debt does not have to ask my forgiveness. It is a work of grace in my heart.