A: The calling into question of certain private debt instruments was the source of the international crisis that we are experiencing. It is as a result of this “private” crisis that we have been faced later with the problem of sovereign debt risk. All industrialised countries must strengthen the soundness and credibility of all public policies, and in particular fiscal policy.
It is also essential that the overall balance sheets of certain institutions continue to be adjusted. This is now happening through the “stress tests” which Europeans have fortunately decided to conduct, the results of which will be published, bank by bank. Q: Are there many skeletons still hiding in the closets of banks?