The world nowadays changes very, very, very fast given the challenges of science, technology and globalisation.” Is the wish to see rapid change in France no more than a utopia bearing in mind the current situation? Jean-Claude Trichet: “I think that the characteristics of each and every country are of course linked to its history.
Both were global in scope, both were centred in the United States, and importantly both were preceded by mounting global imbalances, loose monetary policy and high levels of leverage. BIS Review 95/2009  1  Still, there are important differences between the Great Recession of today and the Great Depression and all the crises in between.