Chronique du Prochain Krach Bancaire - Meet the author Chronique du Prochain Krach Bancaire - Meet the author February 25, 2010

The recent financial crisis was assessed as “the worst since the Great Depression of the 1930s” by leading economists. It just came after the fastest economical growth in history.

What were the causes for this alarming situation? Do the comforting claims that the crisis is over reflect an unbiased statement of the economy?

In their book, Philippe Thaure and François Vincotte assess the situation with meticulous clarity:

* One of the main roots for this crisis was excessive usage of funds with speculative goals.
* Within 20 years, derivative products got much higher value than the shares and bonds which were covering them.
* Half of international trade passed through tax havens.
* An international reference currency other than the US Dollar ... is still missing.
* International financial coordination is minimal. We must arrive at a strong and permanent cooperation in fiscal policy in order to ensure global unity and cohesion.

A major correction in behavior and positioning, along with the joint action of citizens, businesses and economic leaders must push politicians, as well as financial and monetary institutions, to act tightly with the utmost discipline.
This crisis may not develop into a global catastrophe but if necessary changes do not occur soon, the unavoidable question will be: When will the next crash occur?

40 books will be distributed with pre-registration tickets (one book per order, with signature from the author, will be given away at the entrance, while supply last).

Presentation of the book will be in French