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Le rapport de Richard Portes

Le rapport de Richard Portes

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Published by Laurent MAUDUIT

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Published by: Laurent MAUDUIT on Mar 26, 2012
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The Icelandic financial sectorand the markets
Richard PortesLondon Business School and CEPR  April 2008
Road map
The Icelandic economy: fundamentals
Mini-crisis of 2006 and response
The banks: fundamentals
CDS market and ratings agencies
Macro imbalances: a hard landing in prospect?
Financial volatility and the euro
The market risk premium on Icelandic banks isexcessive so what is going on?
How to get out of the vicious circles?
La calunnia
(Aria of Don Basilio)GioachinoRossini,
Il barbieredi Sivigli
, act I
La calunniaèun venticelloun’aurettaassai gentilecheinsensibile, sottile,leggermente, dolcemente,incominciaa sussurrar.Piano piano, terra terra,sottovoce, sibillando,va scorrendo, va ronzando;nelleorecchiedella gentes’introducedestramente,e le teste edi cervellifa stordiree fa gonfiar.Slander is a little breeze,a gentle little zephyr,which, insensibly and subtly,lightly and softly,begins to murmur. Very softly, quite prosaically,under one’s breath, with a hiss,it flows, it buzzes;into the ears of the publicit deftly introduces itself,and it stupefies heads and brainsand makes them swell up.

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