According to figures published every day by the Agence France Trésor, which manages France's public debt, the rate on 10-year government bonds (OATs) reached 3.59% on December 11, after 3.61% the day before, the day after the National Assembly adopted the Social Security financing bill. This was the highest level in recent years and 0.3% higher than the rate observed at the beginning of the month. Does this market evolution reflect an increased mistrust of the French economy, when one could have legitimately hoped the opposite after the success achieved by the government?

Certainly not ...

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The adoption in the National Assembly of an amendment leading to the nationalisation of the activities in France of the steel group Arcelor-Mittal has revived old memories, the nationalisations following the arrival of the left in power in 1981, accompanied by unjustified critical comments. At the time, Usinor and Sacilor were on the verge of bankruptcy due to their heavy losses and excessive debt. The conversion into shares of these debts held by banks, which had been nationalized since 1945, and by the State, followed by the purchase of the last listed shares, made it possible to save the two ...

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The multiple crises that have occurred in recent years, the invasion of Ukraine by Russia or the protectionist push of the Trump administration for example, have lent credence to the idea that we are witnessing the end of globalization. However, this has been an essential factor in the evolution of the main economies over the last fifty years and its questioning could have major consequences on the growth and standard of living of the populations concerned, but also on the geopolitical balances.

It all started in the 70s with the emergence of "multinationals". These companies, most often American, had conquered ...

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