During a century, the access to oil has constituted a major strategic stake and has been at the center of geopolitical tensions leading even sometimes to wars. At the end of the Ottoman Empire, England and the United States, to which France lately joined, have redrafted the Middle East map according to the localization of the oilfields. The Pearl Harbor attack has been initiated by Japan threat to be deprived of its oil supply by the U.S. If the German army went to Stalingrad to fight, it was with the purpose to have access to Caspian Sea and its ...

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Never-ending discussions between thousands of delegates of near two hundreds States and international organizations, a compromise text whose interpretation is confusing and vague commitments, so is the result of the COP 26. Yet, everything is not negative. This conference has shown a turnaround in the world public opinion and the skepticism about climate warming, about its causes and its consequences, has strongly retreated. No more major country, as during the Trump mandate, today dares to dispute the importance of the phenomenon and its challenges. But the track is long between the expressed intentions exposed by everyone, the conclusion of an ...

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We believed we had finished, at least in developed countries, with inflation which had been a major factor of disequilibrium, until the Nineties. To cope with it, monetary policies had been extended to an extreme, as in the United States in 1979. That had been, when the euro and the European Central Bank were created, the major concern of the founding countries like Germany which was still reminding the disasters of the Twenties, which were not without link with the Nazism ascension. It is why, in the ECB mandate, the first priority was to act to keep inflation in the ...

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