Nobel Prize winner in economics Edmund Phelps speaks for creation of banks of new class

ASTANA. March 10. KZAINFORM /Aigul Tulekbayeva/ US economist - Nobel Prize winner in economics Edmund Phelps sees overcoming the world financial crisis in reorganization of the financial sector and creation of banks of a new class, which will provide loans to business structures; Kazinform reports.

Edmund Phelps told about the reasons of appearance of the world economic crisis and presented his view on its overcoming at a briefing in Akorda following the results of the meeting with President Nursultan Nazarbayev. ?Overcoming the crisis is very easy, we need to reorganize the financial sector, we should not recreate commercial investment banks in that form they have been. We need to create banks of a new class, which will specialize in lending to business structures for long-term investments and innovations?, he added.