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An Unrecognised Dimension of May 68 in France

Par : Type de matériel : TexteTexteLangue : français Détails de publication : 2014. Sujet(s) : Ressources en ligne : Abrégé : This article addresses an important economic dimension of the events of May 1968 in France: massive capital flight towards Switzerland. Based on the internal documents of the main institutions involved in both countries, the author traces the clandestine outflows of banknotes that were the direct consequence of the socio-political crisis of May-June 1968. Despite the imposition of exchange controls and secret interventions in the financial market, the outflows continued and exacerbated the major financial crisis that was plaguing the French State. On the other hand, these financial flows allowed the Swiss financial market to assert its role as a global wealth manager and solidify its relations with French capital holders.
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This article addresses an important economic dimension of the events of May 1968 in France: massive capital flight towards Switzerland. Based on the internal documents of the main institutions involved in both countries, the author traces the clandestine outflows of banknotes that were the direct consequence of the socio-political crisis of May-June 1968. Despite the imposition of exchange controls and secret interventions in the financial market, the outflows continued and exacerbated the major financial crisis that was plaguing the French State. On the other hand, these financial flows allowed the Swiss financial market to assert its role as a global wealth manager and solidify its relations with French capital holders.

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