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09/10/2008 - POLITICS

Jean Peyrelevade, vice-president of the MoDem party

David Crossan’s guest on Politics is Jean Peyrelevade, former chief executive of French bank Crédit Lyonnais and current vice-president of the centrist MoDem party. He’s a vocal critic of President Sarkozy’s economic policy. (Part 1)
FINANCIAL CRISIS
Paulson warns of more bankruptcies in the US
Treasury Secretary Henry Paulson warned that more financial companies would go bankrupt in the US despite Congress' decision to pump 700 billion dollars into money markets last week.
FINANCIAL CRISIS
IMF says global economy faces a painful recovery
The International Monetary Fund said that the financial crisis has had a big impact on global economies and has "badly shaken confidence in global financial institutions and markets".
FINANCIAL CRISIS
Britain unveils bailout for banks
The British government announced Wednesday a bank-rescue plan including a 50-billion-pound partial privatisation of banks and a 200-billion-pound credit line. Despite the move, London's FTSE 100 index fell 1.64% at the start of trading.
FINANCIAL CRISIS
Britain set to unveil rescue package for banks
Finance Minister Alistair Darling (pictured) is to announce a bank-rescue plan Wednesday. Late Tuesday, he, Prime Minister Gordon Brown and the heads of Britain's central bank and financial regulator held a meeting on a response to the crisis.
LESSONS FOR THE FUTURE
The long march of capitalism
As world markets continue to sink under the pressure of the financial crisis, Jacques Attali looks at the origins of capitalism.
FINANCIAL CRISIS
UBS to axe another 2,000 investment banking jobs
Swiss bank UBS announced it would cut 2,000 more jobs and close down its commodities dealing operation as part of a major investment banking reorganisation. On Thursday, UBS said it would make a small profit in the third quarter.
ECONOMY
France entering recession, says state statistics body
France's state statistics agency INSEE forecasts that the GDP will drop by 0.1% in the third and fourth quarter, after dipping 0.3% in the second quarter, a downward trend that the budget minister reluctantly called a "technical recession".
FINANCIAL CRISIS
How to spend $700 billion
The proposed US bailout could buy 2,000 apple pies for every American. FRANCE 24 asked two economists how they would spend the money. (Photo courtesy of McDonald's).
US BAILOUT PLAN
Dow Jones sees biggest one-day drop as House rejects bailout plan
US markets were in turmoil and the Dow Jones closed with a historic single-day drop of nearly 800 points as the House of Representatives voted 228 to 205 against the bill to deliver an unprecedented $700 billion bailout package.
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