Just ten years ago, Mario Draghi, chairman of the European Central Bank, announcing in July 2012 that he will do all it is necessary “whatever it costs” to save the euro and putting into practice this decision, rescued the common currency. Europe was hardly emerging from the recession caused by the “sub-prime” crisis. The disclosure that Greece, with the assistance of a merchant bank, had forged its accounts in order to dissimulate the situation of its public finances, had started high tensions inside the euro zone. They were amplified by the revelation of the weakness of the Irish banks which ...

Continue reading

The world has changed. The globalization is going through its first crisis. It took its expansion in the Nineties with the end of the Cold War and the climate of peace which resulted from it. Thanks to major innovations, people, goods and data could circulate at a low cost. Countries progressively lifted their trade barriers. Tourism known a very large development and we saw a capital flows liberalization. China, thanks to the reforms initiated in the Eighties started to make up its time with developed countries. Its adhesion to the World Trade Organization and ten years after, the launch of ...

Continue reading

The publishing of the 1^st estimation of French growth during the 2^nd quarter, which has been confirmed one month later, has created a nice surprise. The 0.5% GDP increase has by large overpassed the forecasts which rather saw it around 0.2%, which would have just erased the diminution observed during the first quarter. The acquired growth for 2022 is now 2.5%, which means that if the economy is stagnating during the second half of the year, it is this number which will the rate for the full year, which would put France in a good ...

Continue reading