When, during 2007 summer, banks realized they had, in their books, assets which were constituted with irrecoverable loans, financial planet started to be shaken. It will be necessary to wait for Lehmann bankruptcy, a year later, to assess the size of the disaster which provoked the biggest post-war financial crisis and a major world recession. Are we on the brink of the same situation? Market value of the banking sector has fallen since the beginning of the year and it reflects this concern but, apparently, banks are in a much better situation than in 2007. Their core capital ratios have ...

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2015 hasn’t been a year as any. Oil, Yuan, Fed, Europe and France have known majors turning points. Some of them will generate structural evolutions which will affect the world economy at least for its next ten years.

Oil, first. 2015 has brought the confirmation that price fall observed at the end of 2014 was not only the result of geostrategic choices, Gulf States, with Sunnite predominance, willing to weaken Shiite Iran and the United States trying to cut Russian resources after Ukrainian crisis. OPEC decision to maintain the level of its production, confirmed a year later, was the ...

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When, in France, some political leaders suggest that parties, which, usually, confront each other, met together to favor the emergence of solutions for the diseases the country is suffering, first of them unemployment, in Washington, Democrats and Republicans, with the support of president Obama, have just given a stunning demonstration of the merits of that approach.

American institutions are different from ours. Congress cannot be dissolved and when the current majority is from a different political side than the president, there is a “cohabitation” situation. The former, in case of disagreement can only oppose its veto and to surpass it ...

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