J-P. Fitoussi, Chairman, French Economic Observatory (OFCE)
Saturday 25 October 2008
Policymakers have tried all they can to stop the bleeding on financial markets. R. Kahane asked J-P. Fitoussi, Chairman of the OFCE, why stocks have extended their declines with an unprecedented degree of volatility.
It has been another week when policymakers have tried all they can to stop the bleeding on financial markets.
Western governments are giving a helping hand to banks stricken by toxic assets while central bankers are injecting massive amounts of cash in money markets to unfreeze credit.
And yet, stocks have extended their decline with an unprecedented degree of volatility. Investors are no longer wondering if there will be a recession but how deep it will be...
Raphaël Kahane discusses the challenges of state interventionism with Jean-Paul Fitoussi, a professor of Economics at Sciences-Po in Paris and the Chairman of the French Economic Observatory, OFCE.
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