Clair Posted October 6, 2008 Share Posted October 6, 2008 I did find another article which addressed this very question:http://www.lefigaro.fr/placement/2008/10/02/05006-20081002ARTFIG00600-les-reponses-a-vos-questions-sur-la-crise-bancaire-.php (in google-English HERE) Link to comment Share on other sites More sharing options...
Logan Posted October 6, 2008 Share Posted October 6, 2008 There is an awful lot of unjustified panic around at the moment. This loss of confidence is financial institutions in my opinion is completely daft. Ask yourself has any bank depositor lost a single penny? Even with Northern Rock when Brown/Darling dithered for weeks nobody lost anything and nobody is going to lose anything. French Financial institutions are completely sound. Link to comment Share on other sites More sharing options...
Graham & Brenda Posted October 6, 2008 Share Posted October 6, 2008 I wonder what proportion of the "panickers/worriers" in the UK have more than the currently guaranteed amounts in their bank accounts. Given the increase in borrowing and reduction in savings, the rise in re-mortgaging - often to clear credit cards ready to run them up again, not that high a proportion I would think. Probably the same people who complain of paltry credit interest on their current accounts, when most of the balance disappears the day after payday to pay all the standing orders and direct debits.What is needed is some sense of proportion or the continued collapse of the financial system and the economy will become a self-fulfilling prophecy.Given the more cautious French attitude to debt, I do not know but I would not have thought that the position here was as perilous. Link to comment Share on other sites More sharing options...
Poppy Posted October 6, 2008 Share Posted October 6, 2008 [quote user="Logan"]There is an awful lot of unjustified panic around at the moment. This loss of confidence is financial institutions in my opinion is completely daft. Ask yourself has any bank depositor lost a single penny? Even with Northern Rock when Brown/Darling dithered for weeks nobody lost anything and nobody is going to lose anything. French Financial institutions are completely sound.[/quote]The problem is if the Bank don't answer the phone and don't respond to email or fax is the panic unjustified [blink] Link to comment Share on other sites More sharing options...
Clarkkent Posted October 6, 2008 Share Posted October 6, 2008 Given the more cautious French attitude to debt, I do not know but I would not have thought that the position here was as perilous. In the early 1990s, Credit Lyonnais, the largest bank in France, lent loads of money it did not have ... and the result? Well, its remains are now part of Credit Agricole. I don't think the present situation has anything to do with domestic attitudes to debt but with the fact that banks have lost confidence in each other. STOP PRESS: The latest is that a handful of Icelandic businessmen may have made the country of Iceland bankrupt. Link to comment Share on other sites More sharing options...
Clair Posted October 8, 2008 Share Posted October 8, 2008 another Q&A on the matter of how safe French banks are:Faut-il laisser son argent à la banque ?(in google English HERE) Link to comment Share on other sites More sharing options...
Jonzjob Posted October 19, 2008 Share Posted October 19, 2008 I know not a lot about the French banks, but I do wonder about the banks in the good old U.S of A if this is their new $ bill?[IMG]http://i47.photobucket.com/albums/f180/Jonzjob/One_dollar_bill.jpg[/IMG] Link to comment Share on other sites More sharing options...
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