In this roundtable, we have been asked to address three basic questions that arose in the various sessions of the conference: How to handle the issue of bank portfolios or how to deal with bad debts; how predominant is the role of banks as intermediaries in the process of transition relative to that of securities and capital markets; and how important is the establishment of a sound banking or financial system for the process of reform. I will endeavor to answer those questions in my presentation, though I will take them in inverse order.
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