Noyer's lonely moment

Robert Pringle, the editor of Central Banking journal, speculates on what kind of questions went through the mind of Christian Noyer, governor of the Banque de France, when he first learned of the Societe Generale disaster.

It is the early afternoon of Sunday 20 January and Christian Noyer, the governor of the Banque de France, is brought face to face with every central banker's worst nightmare: the risk of a collapse of one of his country's major banks and a threat to the stability of the

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