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Next few hours crucial for stabilizing markets: IIF
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.
"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)











