JOHNSON SAYS GROWTH WILL DIFFUSE DEBT CRISIS
Federal Reserve Board Vice Chairman
Manuel Johnson said a resolution of the debt crisis depends on
growth in the industrialized world.
    "We can work our way through as long as we have growth in
industrialized countries to allow indebted countries to get out
of their problems," Johnson told the Women in Housing and
Finance.
    Johnson also underscored the need to continue enforcing
loan conditionality and repeated his opposition to debt relief.
He rejected a "quick fix solution" adding, "There are no free
lunches."
 Reuter
