The French are cautiously optimistic.

Position:National Institute for Statistics and Economic Studies - Brief article

Before it became obvious during the summer of 2007 that the liquidity crisis was going global, and that the crisis would have a negative effect on the global economy, the world economy was doing well, "growing briskly," in fact. So observes France's National Institute for Statistics and Economic Studies (INSEE) in an October 28, 2007 analysis of the country's economic progress well into the fourth quarter, 2007. INSEE says that it is not easy to forecast with any certainty what will happen to the world economy. Doubts prevail. Uncertainties persist.

"These doubts affect the macroeconomic landscape: They generate a lack of visibility on banks' future credit-distribution behavior, on the functioning of markets that are now short of lenders, and hence on the ability of...

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