Mastering the Financial Crisis - The French Approach
University of Luxembourg - Faculty of Law, Economics and Finance; European Corporate Governance Institute (ECGI)
March 31, 2010
European Company and Financial Law Review Vol. 7, No. 2, 2010
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.
Number of Pages in PDF File: 43
Keywords: Financial Crisis, Banking Crisis, State Aids, Compensation, French Banking Regulation
JEL Classification: G30, G38, K20Accepted Paper Series
Date posted: May 17, 2012
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