The current financial crisis and its effects on the French economy

University essay from Mittuniversitetet/Institutionen för samhällsvetenskap

Author: Etienne Dumoulin; [2010]

Keywords: Financial; crisis; French; economy;

Abstract: AbstractIn this paper, we will be interested by the current financial crisis and how it did affect on the French economy. After setting the global French point of view and an overview of other crises, the discussion will be focused on the subprime crisis and how it turned into a worldwide financial crisis to reach the state of France. The data of the French statistic institute (INSEE) will be used as an analytic tool to show how France has been hit.To discuss this topic, we start from a chronology of the last crises to an overview of the French point of view in economy to correlate the current financial crisis to the French economy shrink. To set the subprime principles permit to explain the spread of the toxic mortgages in the worldwide finance and the collapse of economies. In more details, that explains the French economy collapse. The shrinking French economy started with the GDP and as a snowball effect, foreign trade, and companies followed. In the same time, the rise of unemployment and the change of the consumer behaviour can be notice. All of those are correlated with the current financial crisis.Going through this paper, we learnt that the subprime crisis is the cause of the current financial crisis. Indeed, the spread of the toxic loan into the whole financial market provided its collapse and finally reached to a fall of the world wide economy. In this study, we were focused on the effects of the current financial crisis on the French economy. This paper showed in the conclusion that the economy are recovering after a period of depression.

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