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Reuters talks to portfolio managers and strategists to find what's on the horizon. Learn how to position your portfolio in the year ahead.   Full Coverage 

Next few hours crucial for stabilizing markets: IIF

WASHINGTON
Sun Oct 12, 2008 1:27pm EDT

WASHINGTON (Reuters) - Failure to quickly announce "bold measures" to restore confidence among investors will result in "further deterioration" in financial markets, the world's leading bank lobby warned on Sunday.

Crisis in Credit

"Tonight, tomorrow morning are very critical moments," Josef Ackermann, chairman of the Institute of International Finance told reporters in Washington.

"I think we have to do whatever is needed to bring confidence back, even if it is a little artificial with some state help and guarantees," added Ackermann, who is also CEO of Deutsche Bank.

(Reporting by Walter Brandimarte)
Crisis in Credit


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