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Éric Woerth: "This crisis will cost France between 75 and 120 billion euros"

2020-04-06T17:16:09.189Z

INTERVIEW - The former Minister of Budget and Public Accounts estimates that the recession will be deeper than in 2009.



Éric Woerth, chairman LR of the Finance Committee of the National Assembly, was in 2008 Minister of Budget and Public Accounts.

LE FIGARO. - How is this crisis different from that of 2008?

Éric WOERTH. - Ten years ago, we were facing a financial crisis when the current crisis is first of all deeply human and affects the real economy. The virus at the time was called subprime and it spread from American banks to the rest of the financial world. The urgency was then to maintain credit in a world which, deprived of liquidity, risked thrombosis. Today, the banks are rather the solution from this point of view there. Two lessons from the 2008 crisis are interesting: Europe has managed to agree on a solid response and has been able to clean up its financial system. The second lesson is that getting back to normal takes time. It took ten years to regain pre-crisis purchasing power.

What to think of emergency measures for

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Source: lefigaro

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