If new segments grow soaps are also claiming a 3A simple rain stops the issuance of the corn pollenI was also brought in lending to 0 in youngThe slowdown that 2008 should be moderate Understand campaigns more sensual more incisiveBut it is the sector which displays the lowest growthYesterday the stock market welcomed this projectJust to negotiate a better price of outputHowever this radical point of view is no unanimityThe current global finance is preposterousEdouard Balladur has just published "for a Western union between Europe and the United States", in Fayard.
Nicolas Sarkozy has just called the President of the Société Générale to its "responsibilities": do you consider that, in a private like this case, the policy must thus intervene
This case involves the same principles of liberal economy such as we see it work. Therefore, the policy cannot remain indifferent. What issues arise Observed deviations that may call into question, not only the future of a large French Bank, but also the financial system of our country, are likely to reproduce elsewhere Has it become so easy to defraud If that were the case, we would have to reconsider all the rules of our financial organization.
In this case, how to prevent such excesses
Is there control techniques to prevent the recurrence of incidents of this magnitude in the future If such is not the case, must be that the supervisory authorities say, and there is no infallible technique of control, to the question: If there is market operations that cannot be well control, should banks be allowed to continue at the risk of destabilizing the financial system
But ban French banks to make these market operations could be a serious handicap in international competition
For the moment, I merely to ask the question. The first purpose of the banking system, is to finance the activity of companies and individuals. Are games on the financial markets, which are themselves to their own end, still an asset for the economy
Should we also return on engagement to the results that prompted traders to take such risks
I have always been favourable to the engagement of employees. But the incentive to what Reward an employee who was able to create a product, find a market for the sale to develop a new activity, it is very well. But engagement should not encourage them to take undue risks.
Do you, as some in the light of the crisis and the "sub-prime" this accident, that finance has become mad
I always thought, following Jacques Rueff, that the international monetary system based on the fluctuation of currencies generated instability; that he favoured the development of credit often unrelated to the real needs of the economy. We must return to a healthier system. This can be done at one level of the France or even Europe. Globalization exists, we cannot do so, us. Computerization and the concurrency of operations are also a given. We must invent an international monetary and financial system that makes that economic globalization is regulated by principles, constraints and, if necessary, sanctions.
How raise such awareness
Europe can initiate the movement. Everyone must understand what danger contains the explosion from twenty years of creation and the distribution of credits. There are new rules to invent, they can be through international cooperation. Globalization and computerization were popping the old system.
Join the camp of those who criticize the excesses of liberalism
Not, but, at the school of liberal thinkers, I think that liberalism is not the law of the jungle. Otherwise freedom itself would be threatened and, thus, economic progress.
