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Crisis and Whispers

A Documentary by Jossy Mayor and Laurent Moyse

September 2008 : shock wave in Luxembourg

The spectre of a national catastrophe arises at the end of September 2008 in Luxembourg when two systemic banks from the financial centre are on the verge of disappearing simultaneously.    Read more...

With the participation of Luc Frieden, Jeannot Krecké, Charles Goerens, Carlo Thill, Frank Wagener, Serge Allegrezza, Yves Mersch, Jean-Jacques Rommes, Pierre-Henri Conac, ...

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Crise et Chuchotements

In theaters in Luxembourg from 18 mai 2022

Sunday May 15 at 5 pm at Ciné Utopia

Movie premiere in the presence of the directors

followed by a discussion:

"D'une crise à l'autre: les leçons tirées de 2008" (Fr)

Guest speakers : Luc Frieden, Carlo Thill et Alain Kinsch

Synopsis: On Friday September 26, 2008, the management of Fortis Luxembourg warns the Luxembourg finance minister, Luc Frieden, that the bank is on the verge of collapse. The subprime crisis and the acquisition of ABN AMRO precipitated the fall of the group of which it is a part and which has its headquarters in Belgium. For three days, a Luxembourg delegation under the leadership of the State works tirelessly to try to save the Luxembourg entity. No sooner has it sketched out a rescue scenario that it learns about another systemic bank, Dexia-BIL, which is dragged into a similar disaster. The disappearance of the two banks could deal a fatal blow to the country's economy and destabilize the entire financial centre.

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