Challenging again forecasts, France continues to profit from historically cheap financing conditions. The 10-year rate published by Agence France-Trésor on December 5th, 0.53%, was at its lowest level for more than a year. This situation should last for most of next year, in contradiction with the figures published in the 2018 Finance bill. Three elements are supporting this trend. The most important is coming from the last decisions of the European Central Bank. Its quantitative easing policy is prorogated until next September through the purchase of bonds. Even if their amounts are reduced to 30 billion per month ...

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At a moment when the Goncourt Prize in France is awarded to a narrative about the annexation of Austria by the German Nazi regime and when October Revolution is commemorated, instead of being celebrated, history is omnipresent. It has invaded political debate in France, where are castigated policies conducted “for thirty years”. At the beginning, it was the left which was targeted because that period coincided with François Mitterrand election in 1981. But, years after years, this starting point has moved and this indictment has lost some of its political content. The main flaw of the Eighties is that ...

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Last Thursday, the European Central Bank has announced the main orientations of its monetary policy for the next year. They have been clarified by the comments added by its president, Mario Draghi. We have, now, a clear indication about the evolution of the eurozone during the coming months. Markets made no mistakes about it. They immediately reacted: European stock markets, except Spain due to political reasons, rose and the euro fell. The currency lost more than 1% against the dollar.

First, the ECB announced that it will prorogate until September 2018 its quantitative easing policy but for amounts reduced to ...

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