Même un Hans Tietmeyer, peu suspect de vouloir contrer le libre flux des capitaux, a vanté les mérites de l' "encaja" chilienne, qui pénalise les placements courts et favorise ainsi les placements à long terme.
Even a commentator like Hans Tietmeyer, hardly open to suspicion as eager to restrict the free movement of capital, has sung the praises of the Chilean 'encaja', which penalises short-term investments, thus creating incentives for the long term.