Forbes Interview with Robert H. Singletary (see Armenian version here) F. Does the Armenian economy being so small and already quite well-financed by banking sector, really need a capital market as a source of financing for the real sector? Any financial system that consists only of banks is one-dimensional. And while a strong banking sector can help grow a country’s economy to a certain level there is an inherent limit on that growth. This is because the banks, almost by definition, can only extend credits (debt financing) to the real sector. And there is in turn a limit to how much leverage any company can take on. Once a company’s…