Archives Jan. 1, 2016

To leave François Hollande holding the full responsibility of Alstom planned decline is unfair. It is the result of more than twenty years of strategic mistakes made by its CEOs. But since, in 2004, Nicolas Sarkozy helped the group to avoid bankruptcy and gave it the possibility to rebound, the green light given by the state in 2014 to the deal settled with General Electric (GE), which was not asking for so much, has constituted a fatal mistake. Belfort closure, which is an emblematic site of the company where, during the past, were brought together activities related to transport ...

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In China, nothing or just about, occurs by chance. So the choice of the city of Hangzhou to host heads of states participating to the G20 Summit, has a deep sense. This city was China capital during the Song dynasty, at a time when the country was starting to attract attention from the West. Then it was put in the shade by Beijing, of course, and, much later, by its neighbor, Shanghai, which became, from the 19^th century, the economic hub of the country. But it was in Hangzhou, during the seventies, that secret discussions took place between Henry ...

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Every summer, central bankers and a clutch of economists gathered at Jackson Hole, the American Chamonix, in the Rocky Mountains. This time, attention was focused on Janet Yellen speech and her indications on next interest rates increases. We didn’t learn more because, following her habit, she procrastinated. But the debate about monetary policy role passed quite unnoticed. It is regrettable because it has become the main instrument of the economic policy, which is not anymore in government hands, since central banks got their independence. Highly indebted states, refusing to increase their budget deficit, relied on the decisions of their ...

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