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Mastering the financial crisis – The French approach Discussion Report

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  • Conac Pierre-Henri

    (Professor at the University of Luxembourg, LLM (Columbia Law School), ECGI Research Associate. E-Mail : phconac@wanadoo.fr.)

Abstract

France suffered from the financial crisis originating from the United States in 2007 like all other European countries. However, the French banking sector was significantly less impacted by the financial crisis than other European countries. This lead France to adopt a financial rescue plan including a recapitalisation and a refinancing scheme presenting technical and sometimes fundamental differences with other European countries. France also took a very hard view on managers' and traders' compensation. Measures adopted during the financial crisis on compensation as temporary counterparty imposed on banks and financial institutions might probably become partially or totally permanent.

Suggested Citation

  • Conac Pierre-Henri, 2010. "Mastering the financial crisis – The French approach Discussion Report," European Company and Financial Law Review, De Gruyter, vol. 7(2), pages 297-339, January.
    • Handle: RePEc:bpj:eucflr:v:7:y:2010:i:2:p:297-339:n:7
    DOI: 10.1515/ecfr.2010.297
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    Cited by:

    1. Fang, Everest, 2020. "French Liquidity Support through the Societe de Financement de l'Economie (SFEF) (France GFC)," Journal of Financial Crises, Yale Program on Financial Stability (YPFS), vol. 2(3), pages 681-698, April.

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