Over-indebted households: how France changed its philosophy
"What can we do with credit, if not risk it?"
"What can we do with credit, if not risk it?"
It's a well-known adage among businesses of all sizes. For the end consumer, there's no debate: with the exception of a few credit sales, you have to pay for your purchases as soon as you go through the checkout, in cash, to leave with them, or risk being prosecuted for skimming. In the vast majority of cases, payment terms do not exist. In the business-to-business world, things are different and more complex. Intercompany credit is a long-standing and common practice involving indispensable and recurring transactions between customers and suppliers.
The French know little about their country's laws. It's a pity, especially when they are used to protect people in financial distress who can no longer make ends meet, the over-indebted, more and more numerous today, faced with the rising cost of living.
Company and bank directors are becoming key players in corporate governance. Today, boards of directors and their specialized committees need competent, qualified and independent-minded Directors.