The Impact of the Bank of England's Control of Money

Eric Liu: I just wanted to read from the Bank of England website, which reminds us all how money is made. It was designed to be a complement to a strong state intervention in a financial system and more specifically in the allocation of credit. So what is happening in France, but again, it is really not specific to France, is that the government are going to develop a lot of what we call today public development banks. And their role is really to finance long-term investment with some priority sectors which are not determined by financial returns, but really by the government.