Acting together with the South

Acting together with the South
N°2008

The world is facing an unprecedented financial crisis. Bankruptcies of some
of the biggest American banks have led some European establishments into
deep turmoil. This financial crisis, now worldwide, has triggered both an economic
crisis and the recession we are facing today.
At least, recent events weren’t totally useless. They made us realise that the financial
world we’re living in is only driven by the search for maximum profit. This
financial world’s products, more and more complex, have shown their fragility.

Anunbridled capitalism that ignores the main principles of a sound risk management and which artificially increases assets, at the expense of a healthy middle to long run management. It neglects the very basis of bank credit: helping to develop economic projects, rational assessments of the risks and a fair return on capital.

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