I had the privilege of being involved in some of these ’ways out of crisis’. I lived through their dramatic intensity and was, sometimes, able to contribute to pragmatic solutions which helped to steady the ship. This was true, for example, of the Latin American crisis, negotiation of the IMF adjustment programmes and aiding the transition of the Eastern European countries.
But the picture is still dark. The 2007-2008 crisis, with its trail of
unemployment and recession, is an extreme example of what excess debt can do. And quantitative easing policies, implemented to minimize the effects of the ’great recession’ despite its origins in the abuse of debt, plunge an observer like myself into an abyss of questions and doubts."
From the collapse of Bretton Woods to that of Lehman Brothers, a first-hand account of fifty years of financial crises by a participant on the front lines of finance and currency.
The memoirs of an exceptional, influential man who worked alongside Jacques Delors, Valéry Giscard d’Estaing, Raymond Barre, Paul Volcker, and many others.