A crisis that they perceive as a moral bankruptcy

Gathered at the Women's Forum in Deauville, a thousand of women executives from all continents much discussed the place of women in society, in particular in companies, but also of the financial crisis. A crisis that they perceive as a moral bankruptcy. According to a survey conducted by the FIFG, only 19 of the women present evoke a technical crisis, when 35 speak of a moral crisis and 47 of both technical and moral crisis. 90 of them believe that it will not restore confidence without teaching work to explain and to dismantle the mechanisms of the crisis, while 90 of European women but also 80 of those who come from other countries that Europe plays a leading role in the re-establishment of a more independent economy of finance.

In the corridors, high level jurists, diverse audience or business women share their concerns. "Should any review: the truth is we were asked to give legal green lights on financial packages not lined, with a predominance of an anglo-saxon law become unable to manage this complexity", stresses an expert of HSBC. And note that no one in the Bank was able to have a global, when vision of young people, only motivated by a thirst for year end bonus, sought to sell products which they did not themselves risk. "The rating agencies A joke, it had to be that it cracks, when we know that they are paid by the issuer. "You have to you analyst of twenty-five years, subject to the speech of the CEO, Chief Financial Officer and lawyer of the company that it should be noted, does not withstand brainwashing that it imposes", said a lawyer for a large business law firm. While a third said: "In what society lives on, when one of your colleagues, brilliant mathematician, who you have accounts on one of its derivatives, you said, after five minutes had more time to talk to you because you take him on his future bonus time!"

Towards a banking oligopoly

That hope for the future Many reported that they are very worried. They fear that the crisis reinforces protectionism (59, according to the Ifop survey) and that the credit crisis terribly affects SMEs. "Any company which carries out between 3 and 10 million euros of turnover is no credit and is thus denied any development," finds the creator of the fashion company Stella Cadente. Others predict that the desperate search for new spaces deregulated by the financial world will lead to the construction of a new bubble in some emerging countries. While this capital-investment specialist said that banking concentration which will take place on a few "winners" will lead to a banking oligopoly, who may impose conditions of funding very expensive business.

Only Vice-President of the European Commission, Margot Wallström, is is shown optimistic, recalling that the Sweden had known an crisis in 1992, in which the State had flown to the rescue of its banks, but only after a year, in the light of their recovery, the State had recovered his. "He must explain that by helping banks, hopefully save the economy but also to retrieve it later," she says.