La Poste is the largest French employer after the state. Emblematic company of the French style public service, it has experienced over the last ten years profound transformations. The European liberalization has indeed resulted on a full opening to competition of the postal sector. La Poste is...

Through a long-period analysis of the inter-temporal relations between the French markets for credit default swaps (CDS), shares and bonds between 2001 and 2008, this article shows how a financial innovation like CDS could heighten financial instability. After describing the operating principles...

[eng] Financial instability, an historical perspective . Three periods of capital movements growth (1870-1914, 1919-1939 and since the 70’s) have witnessed important financial crisis. These crisis exhibit some common characteristics : the excessive volatility of the stock markets. It seems...