Latest update: 09/10/2008 

- bailout - financial crisis - subprime crisis


André Lévy-Lang, former Paribas chairman, finance professor
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As the crisis spreads swiftly around the globe, the financial contagion hits Europe. FRANCE 24's Raphaël Kahane asked former chairman of Paribas and professor of finance André Lévy-Lang how European economies should respond.
Rescuing the rescue plan

US lawmakers spent the week wrestling with the bailout bill drafted by the Bush administration to shore up the banking sector. Billions of dollars of tax breaks were added to sweeten the pill for the most fiscally conservative Congressmen.

 

Meanwhile, as this crisis is spreading swiftly around the globe, Europe has eventually been hit by the financial contagion.
In just a week's time, governments on the continent have bailed out five major banks. One of the highest-profile victims of this crisis is Dexia, the world's largest lender to local authorities.

 

Raphaël Kahane discusses the way Europe should respond to the crisis with André Lévy-Lang - a director of Dexia. The former chairman of French investment bank Paribas, he is now associate professor of finance at Paris-Dauphine University.
  

Watch the interview by clicking 'Play Video' above.

 

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