Analyse de la crise financière actuelle
The first stage of the plan for rescuing French banks in October 2008 rules that a special company owned by the State and the banks will borrow on the “markets” with the State warranty. The money collected will be lent to the banks so that they can finance economy. This is curious because there is n...
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| Format: | Article |
| Language: | English |
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Association Recherche & Régulation
2009-06-01
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| Series: | Revue de la Régulation |
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| Online Access: | https://journals.openedition.org/regulation/7544 |
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| author | Bernard Vallageas |
| author_facet | Bernard Vallageas |
| author_sort | Bernard Vallageas |
| collection | DOAJ |
| description | The first stage of the plan for rescuing French banks in October 2008 rules that a special company owned by the State and the banks will borrow on the “markets” with the State warranty. The money collected will be lent to the banks so that they can finance economy. This is curious because there is no explanation of money creation, as if “markets” created money. Actually we demonstrate that the banks can use the special company to create money for themselves, then to lend the money to economy and use the State-warranted bonds as a collateral for refinancing from the European Central Bank. So the State behaves as an insurer allowing to borrow from the European Central Bank. |
| format | Article |
| id | doaj-art-0ce40f51b57b4acf9f7d5734025ba2cd |
| institution | Kabale University |
| issn | 1957-7796 |
| language | English |
| publishDate | 2009-06-01 |
| publisher | Association Recherche & Régulation |
| record_format | Article |
| series | Revue de la Régulation |
| spelling | doaj-art-0ce40f51b57b4acf9f7d5734025ba2cd2025-01-30T14:27:16ZengAssociation Recherche & RégulationRevue de la Régulation1957-77962009-06-01510.4000/regulation.7544Analyse de la crise financière actuelleBernard VallageasThe first stage of the plan for rescuing French banks in October 2008 rules that a special company owned by the State and the banks will borrow on the “markets” with the State warranty. The money collected will be lent to the banks so that they can finance economy. This is curious because there is no explanation of money creation, as if “markets” created money. Actually we demonstrate that the banks can use the special company to create money for themselves, then to lend the money to economy and use the State-warranted bonds as a collateral for refinancing from the European Central Bank. So the State behaves as an insurer allowing to borrow from the European Central Bank.https://journals.openedition.org/regulation/7544financial crisismoney creationcentral bank |
| spellingShingle | Bernard Vallageas Analyse de la crise financière actuelle Revue de la Régulation financial crisis money creation central bank |
| title | Analyse de la crise financière actuelle |
| title_full | Analyse de la crise financière actuelle |
| title_fullStr | Analyse de la crise financière actuelle |
| title_full_unstemmed | Analyse de la crise financière actuelle |
| title_short | Analyse de la crise financière actuelle |
| title_sort | analyse de la crise financiere actuelle |
| topic | financial crisis money creation central bank |
| url | https://journals.openedition.org/regulation/7544 |
| work_keys_str_mv | AT bernardvallageas analysedelacrisefinanciereactuelle |