At the G20 meeting in Canada, bank governor Gordon Thiessen, proposed theidea of debt standstills to provide a "breathing space during which debtservice can be re-scheduled". Bailouts for countries in crisis should belimited, Mr. Thiessen said. And clear rules about how to handle crisesshould be established so that all investors, governments and internationalfinancial institutions can know what to expect. Part of that frameworkshould be an allowance for standstills or temporary suspensions of
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