State and banks, hidden aspects of a historical hold up
Conference by Myret Zaki and Etienne Chouard
Moderation: fabio Lo Verso (La cité)
First conference
"The State, Hostage of the financial sector"
By Myret Zaki
I'll stay here taking notes
because there will be an article about this topic in the next issue of newspaper "La Cité"
coming out next week
we'll come back on tonight's discussion
Thank you very much Fabio, and good evening to all of you
I am delighted to be here with professor Chouard
and to discover "l'usine Kugler" and to work in collaboration with "la cité" newspaper
I personally work for an economics magazine called "Bilan"
I've written a few books denouncing the
drift of the financial sector these last years I've been following the evolution of finance the last 15 years
and I've seen how they played a central role in what we now call "the crisis"
so we are in the middle of a crisis as you probably noticed
But we don't really know why ? why now ?
we suddenly said that Greece was in crisis
Can anyone tell me why, according to them,
what triggered the "Greek crisis"
that is a enormous crisis since end of 2009
What started all of that in the first place
if you tell me it is because of its debt
I will tell you that Greece has the same debt level since several years
who decided there is a crisis? does anyone know? Nicolas, who knows all the answers :-)
The bad advices of Goldman Sachs and the way they've hidden, a part of their debt has contributed greatly
ok good thread. The advices of Goldman sachs contributed to the crisis. I agree
everything started when at the end of 2009 the notation agencies
have said that Greece was having little financial difficulties
as several countries of western Europe
Their debt rate had slightly declined lately
and that they needed to improve the way they manage their finance
that's all
rating agencies never said that Greece was in bankrupt
All they said ...(sorry I am speaking too loud in this mic)
In the coming years Greece should try to have a better management of its finances
and that was in 2009
what did really trigger the crisis is that
there was a meeting between 5 hedge funds
in a restaurant in new York
an american newspaper told that story
this is not a fiction
one of the speculator present that day was Georges Soros
the man who hit the bank of england several years ago
and earned 2 billion dollars on an operation to devaluate
the british pound.