A family affair

Credit Lyonnais is essentially bankrupt. The estimated Fr50 billion in probable losses inherited from its go go years, that the state has agreed to cover, are larger than its capital base. This bankruptcy has opened a bigger debate on what many people see as the bigger scandal: a system where a cast...

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Bibliographic Details
Published in:The Banker (London) 1995-05, Vol.145 (831), p.22-23
Main Author: de Quillacq, Leslie
Format: Magazinearticle
Language:English
Online Access:Get full text
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Summary:Credit Lyonnais is essentially bankrupt. The estimated Fr50 billion in probable losses inherited from its go go years, that the state has agreed to cover, are larger than its capital base. This bankruptcy has opened a bigger debate on what many people see as the bigger scandal: a system where a caste of elite civil servants, apparently accountable to no one and rarely punished, play monopoly with the French economy.
ISSN:0005-5395