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At a time when the new French government is looking for measures to redress the public accounts, the publication of job creation figures in the United States (256,000) well above what was expected (190,000) has caused a rise in long-term interest rates that has had an impact on Europe. With growth and inflation both above 2% and near full employment, since the unemployment rate is close to 4%, the Federal Reserve has little reason to lower its key rates in 2025. Four reductions of 0.25% were previously expected. Only one drop is now likely but in reality ...
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In a general climate of uncertainty and even concern, central bank action is at the centre of attention. In accordance with their mandate, it contributes to the restoration of economic equilibrium by effectively combating inflation. It also influences the evolution of the financial markets and is therefore an essential element of the economic policies of States. The two main central banks of the developed world, the Federal Reserve in Washington and the European Central Bank, have pursued expansionary policies of money creation to deal with the crisis caused by the Covid-19 epidemic. The Chinese central bank, for its part, has ...
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There have been no examples in the recent past when the world was going to be confronted with so many situations carrying major risks, on the political or economic level, the latter often stemming from the former. The will to power of some heads of State has been at the origin of tensions and even wars in recent years, as we have seen with Russia's invasion of Ukraine. The discontent provoked by the rise in unemployment and inequality, notably attributed to globalisation, has led to a strong increase in extremist parties at each election, leading them to the gates ...
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EDF, the French electricity utility, is connecting this week the Flamanville EPR nuclear reactor to the grid. That good news, yet, is accompanied by the usual negative comments regarding the exceptional length of the works (a 12 years delay) and the construction huge cost overruns (10 billion). If these points are undisputable, they must not mask another very positive reality for France which so has reestablished its capacity to build nuclear power plants. This one had been seriously affected by several major strategic mistakes.
There was first the refusal, at the end of the Nineties, by the successive governments to ...
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Le nouvel Etat-stratège
Le dernier livre d'Alain Boublil, le nouvel Etat-statège (Editions de l'Archipel) est paru le 5 février 2014.
Le livre apporte les réponses de son auteur à la question qui est, en France, au centre de tous les débats politiques: "Que peut-on attendre de l'Etat aujourd'hui ? " Et il formule plusieurs suggestions sur l'exercice du pouvoir tirées de son expérience passée auprès de François Mitterrand. Observateur de l'économie mondiale comme conseil des nombreuses grandes entreprises qui ont fait appel à lui, il trace un portrait de la France d'aujourd'hui bien moins pessimiste que ce que l'on entend parfois, à condition que chacun fasse preuve de lucidité sur ses propres comportements.
Les exigences ont certes été exacerbées par la crise. Mais y faire face est de plus en plus difficile car l'écart s'est creusé entre les attentes de chacun et la réduction des marges de manoeuvres publiques du fait des règles internationales, de l'endettement et des contraintes environnementales.
En dix chapitres, Alain Boublil dresse un bilan sans complaisances, prend la mesure des possibilités et des limites de l'Etat et il ouvre des voies nouvelles pour l'action publique. Il évoque le sauvetage de l'euro, le fardeau de la dette et le ras-le-bol fiscal, l'Etat-patron de Colbert à Jean-Marie Messier, le retour du complexe vis-à-vis de l'Allemagne et les nouveaux outils de l'Etat-stratège dans la mondialisation face aux défis industriels, aux enjeux de la transition énergétique, à la "dictature du CO2" et à la révolution du gaz de schiste. Et il met en garde contre les dérives de l'Etat-spectacle, qui gènent l'efficacité de l'action publique et les facilités de l'Etat-guichet qui débouchent sur le clientélisme.
La Publication la plus lue
15/01/2025
French version
At a time when the new French government is looking for measures to redress the public accounts, the publication of job creation figures in the United States (256,000) well above what was expected (190,000) has caused a rise in long-term interest rates that has had an impact on Europe. With growth and inflation both above 2% and near ...
Continue reading