Archives April 2019

The economic policy lead in France by the government is going in the right direction and results are testifying of it. It would not be appropriate to change the cape. At the latest, it is necessary to proceed to institutional reforms and to some adjustments of that policy to take into account the social disease which is expressed through the “yellow shirts” movement. Such is, in substance, the message delivered last week by the president of the Republic. It is based on the last statistical publications about growth, public deficits, foreign trade and employment. In despite of that, we don ...

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On April 18^th, the market interest rate for the French debt with a ten year maturity was 0.30%. Since the beginning of the month, it has fluctuated between 0.24% and 0.34% when the yearly inflation rate was above 1%. This exceptionally low level is the consequence, in presence of the slowing of European conjuncture and especially in Germany, of the European Central Bank decision to keep negative short-term interest rates at least until the end of the year and of the favorable appreciation by investors of the France solvability. The spread with the German bond for ...

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We know the famous metaphor: soccer is a game played by two teams where at the end Germany wins. It was following the French team defeat in 1982 at Seville during the World Cup semi-final. It has been used after to compare respective economic achievements of the two countries but it is much less adapted to the current situation. During the last edition, Germany suffered a humiliating elimination after having been defeated by South Korea at the end of the preliminary phase and France won the title. Regarding economic issues, if France is not shining thanks to its successes, its ...

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