A risk too long underestimated?
The bankruptcy of the American bank Silicon Valley Bank (SVB), which caused a wave of panic on the financial markets and weakened by snowball effect the juggernaut Credit Suisse, clearly shows that all the lessons of the economic and financial crisis of 2007- 2008 were not drawn, observes Philippe Dessertine.
In an interview with Le
Figaro
, this renowned economist, professor at the IAE of the University of Paris 1 Panthéon-Sorbonne and director of the Institut de Haute Finance, believes that, in the current crisis, those responsible are more to be sought on the side politicians - who according to him "did
not want to see
" the deleterious effects of the massive injection of liquidity into the economy - than financial markets.
LE FIGARO. - Are the financial markets and their functioning, based on trust, behind the bankruptcy of SVB and the banking crisis it caused?
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