Seminar Guest speakers
Monday January 26, 2009
- 19h - 21h15
In order to put a stop to the financial crisis which followed the Lehman Brothers' bankruptcy, the French government launched a huge bail-out plan for the banks. Its aim was not only to save the banking system, but also to relaunch the credit system, because it is clear that if credit dries up, the entire economy is in danger. René Ricol was appointed mediator to 'fluidify relations between the companies and the banks', and the French département prefects were called in. Elected representatives will certainly be approached by companies experiencing credit difficulties, and they will be tempted to exert pressure. However, it is widely known that when politics interacts too closely with the banking world, there is the risk of a dangerous melange of genres, which was the reason behind the Crédit Lyonnais collapse. French banks are fragile, and encouraging them to go too far might lead to a catastrophe in a few years' time. How then should one encourage them to take part in relaunching the economy without pushing them over the edge ? What behaviour can we reasonably expect from the banks ?
The entire article was written by: