Two years ago, Jean Marc Ayrault, then Prime Minister, following the conclusions of the Gallois report relative to French corporate sector competitiveness, set up substantial fiscal incentives (CICE), which were confirmed by his successor, Manuel Vals through the “Pacte de responsabilité”. The reduction of labor costs generated by these fiscal incentives, was supposed to give employers enough financial margins to invest, create jobs and allow France to come back to a growth path strong enough to reverse unemployment curve.

Nobody can ignore that, until now, these objectives have not been reached, but it could be argued that, as structural reforms ...

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Le débat sur la réforme du code du travail illustre parfaitement l’une des caractéristiques de notre pays : sa culture bureaucratique. L’évocation de cette  « réforme » comporte pourtant une  ambiguïté. S’agit-il de changer le contenu du code pour y faire figurer des dispositions nouvelles, par exemple sur la durée légale du travail ou le droit du licenciement, ou s’agit-il, ce qui n’est pas du tout la même chose, de vider le code de tout ou partie de son contenu pour laisser aux partenaires sociaux la possibilité d’adopter des ...

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Financial markets response, this summer, to the shocks which have affected the Chinese economy and to the decisions of Beijing government, reflects two unquestionable facts : the new position China occupies in the world economy and the difficulties, especially in France, to understand  the consequences of this new position for our companies.

During the last ten years, the world looked at China expansion which contrasted with affected developed economies, the “Great recession” in the U.S. following the 2007-2008 financial crisis, and the “Great stagnation” in Europe, which has not ended, provoked by the euro crisis. Between 2007 and 2014 size ...

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