Keyword: banks

Europe's banks are staring into the abyss

Distinguished UK economist warns that French government is just days away from recapitalizing the country's banking system for a second time.

Downgrade rumours hit French banks

French banks fell sharply amid concerns that the eurozone debt crisis was reaching an impasse that would force Greece into credit default.

French Bank Shares End Higher

French bank shares ended higher Thursday, after lurching wildly amid negative sentiment on the financial sector and speculation about France's triple-A rating.

French banks sell-off clobbers European shares

French banking shares are hammered by worries over further European debt crises on Thursday, knocking European indexes back into the red.

French Plan for Greek Debt

French banks propose plan to reinvest half the proceeds from maturing Greek government bonds ahead of key Rome meeting on the crisis.

'We just lost the chance to rethink capitalism' laments Stiglitz


"The moment of rethinking capitalism in America has gone", bemoans Joseph E. Stiglitz, winner of the Nobel prize in economics, former World Bank chief economist and now professor of economics at Columbia University, in this exclusive interview with Mediapart. Stiglitz says the height of the current economic crisis was a lost opportunity to re-order the economy, "one of those rare moments, many of us thought a Roosevelt-ian moment" but "as soon as the fire was brought down, the political influences of the banks came back."

The staggering public cost of rescuing Europe's banks

 © EU. © EU.

In what was a largely unreported announcement in Decemeber, the EU Commission revealed that more than 4.5 trillion euros of state aid was authorized to fund the rescue of Europe's financial sector since October 2008. More than 1.1 trillion euros was actually used in 2009. Analysis and comment by Martine Orange.

'Euro bail outs heading into a wall' warns top French economist

Demonstrators in Ireland protest austerity plan. © DR. Demonstrators in Ireland protest austerity plan. © DR.

Ireland has introduced its toughest austerity plan in history in return for a debt bail out by the European Union and International Monetary Fund. In an exclusive interview with Mediapart, French economist André Orléan warns such policies are "heading into a wall" and that Europe's "strategic inertia" leaves it "divided and powerless" in face of market pressures. It needs a New Deal, he argues, not austerity.