WORLD SOCIAL SUMMIT 2008
'WSS: Attali, the market creates insecurity because it is based on risk'

"The market creates insecurity because it is based on risk": said economist Jaques Attali during the World Social Summit held in Rome until September 26th. "Individual freedom - continued Attali - means market and the market means temporary employment". Basically "there is no market economy without temporary employment".

The American crisis generated "two foreseeable consequences". The first one was to "question the financial system and loans to companies". The second consequence could develop on Asian markets. The third consequence to fear "compared to the crisis of 1929, is that other mechanisms were applied in 1933, based on Keynes' and Roosvelt's theories".

With regards to the crisis of Caucasus, according to Attali, Russia became "an artificial enemy" that creates conditions "to make Georgia appear in the same conditions for which the war in Spain stirred up".

The rational reaction to crisis is to rely on insurance firms that will assume a "supranational role" and will cover the risks generated by "every fear".