The specificity of the current crisis / Alexandre Lamfalussy -- Causes, effets et leçons de la crise financière / Jean De Ruyt -- La crise financière de 2008 : une perspective historique / Youssef Cassis -- La faute à Voltaire ou à Rousseau? : la responsabilité des banques et des...

Economic downturns which have their roots in preceding credit excesses and debt overhang have tended historically to be long lasting, whether the financial sector remained healthy or not. There are no good reasons to believe the current global crisis will be any different. Moreover, it is argued...