Quote ... Unquote

PUBLISHED : Sunday, 06 December, 1998, 12:00am
UPDATED : Sunday, 06 December, 1998, 12:00am

'You have to spend your way out of a recession.' M&C Saatchi chief Michael Moszynski.

'We are going to have five to six months of good old-fashioned chaos in the oil market.' Salomon Smith Barney analyst Peter Gignoux.

'When the market is this far down, there are no winners. There are only companies that lose bigger than others.' ING Barings Securities (Japan) analyst Keiko Sasaki.

'It is real economic pain of this sort that we believe will finally force the Government to abandon the peg sometime in early 2000. The bottom line is that Hong Kong has not bottomed, or even eased the margin.' Credit Lyonnais Securities Asia's senior economist for Asia David Carbon.

'I find myself irritated when young boys come and start imposing their conditions. They have read many books but they don't know life as it is or the actual situation in Russia.' Russian Prime Minister Yevgeny Primakov.

'Although we are a pretty lean and mean operation, everyone needs to go to the gym now and then.' Dresdner Kleinwort Benson managing director Mario Malt, after his company sacked 72 staff in Asia.

'I think privately [Keizo Obuchi] is hoping he will remain in his post and move forward with efforts to economic recovery. It is not easy to find his replacement, considering his calibre. I for one, would like him to stay on and devote himself to efforts to restore the nation's economy.' Prime Minister Keizo Obuchi's deputy cabinet secretary, Muneo Suzuki.

'I'm very much of the view that pain for its own sake is not a virtue, and that pain doesn't restore confidence in the economy, and in fact leads to social and political unrest which weakens the economy.' World Bank chief economist Joseph Stiglitz.

'I have the sense that the decline is stopping. It's hard to say it has hit bottom and is rebounding, but I have the sense it's crawling along the bottom.' Japan's Economic Planning Agency director-general Taichi Sakaiya.

'In every aspect of your economy, it's not the time to be complacent. We're skating on thin ice.' Far East Bank & Trust economist Emma Pante, on the Philippines' rising exports.

'I don't think the dispute will stop us from publishing the newspaper.' Culturecom director Cheung Wai-tung, on Tin Tin Daily News ' multiple publishers problem.

'When the market becomes imperfect, should we allow it to just go or should we do something about it? In 1965 when we had the last banking crisis, the Government passed a law restricting people to taking out no more than $500 a day. This was market intervention, but did that ruin Hong Kong's reputation as a free economy? I don't think so.' Chairman of the Hong Kong, China Business Council, Lee Jark-pui.