The large Donald Trump victory, at variance with the poll opinions which had estimated that the result will be very narrow, and the creation of a Republican majority in the Senate have allowed to give a real visibility to the prospects of the American economy for the coming years. In Europe, to the contrary, when the worries about growth were becoming worse, Germany, after France, was entering into an uncertainness period after the breaking off of the coalition which is governing the country and the call for snap elections at the Bundestag. If nothing is done, the spread already observed ...

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INSEE has just published its first estimation of the French growth during the 3^rd quarter (0.4%), which would allow to hope, for the full year, a figure slightly above 1%. But the satisfaction expressed by the commentators is not justified. Once removed the positive but temporary impact of the Olympic Games, household consumption has stagnated. The enterprises investment and the new homes construction are significantly reducing. The slightly positive contribution of the foreign trade comes only from a reduction of the energy balance. France has even a trade deficit for agricultural goods and the situation is not improving ...

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The last European Parliament elections have been disappointing and not only because their result in France has been followed by snap elections for the National Assembly and a vote which has opened a period of political uncertainness. Once elected, the European members of the Parliament gathered to form parliamentary groups. Their members belong, each one in his country, to a party. We so would have expected that these parties had worked together to elaborate a program and to present it to the electors. It is the essence of the democracy. Nothing like that happened.

In France, the electoral campaign was ...

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