Since the liberalization of trade and the internationalization of financial markets, central banks have become major players in the choice and implementation of economic policy. They have different missions and statuses depending on the country or continent. Of all, it is the European Central Bank (ECB) that has the greatest freedom of action, thanks to its independence enshrined in its founding treaty and the definition of its mission in its statute, to reduce and maintain inflation in the euro zone to a level below but close to 2%. It can then act to support growth and employment.

The US Federal ...

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The publication of the IFO business index in Germany for February, which is significantly lower than expected (84.4, the lowest level since the low point of the COVID period) after 86.3 in January, reflects the current difficulties of the German economy. But the essential question is whether these are the consequences of the current international instability and will therefore fade away in the future or a structural change affecting a country whose economic model has long been the benchmark in Europe.

Paul Valéry, in his study published in 1898 (A Methodical Conquest) described it as follows: "To ...

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The energy crisis that the world is going through is not the first, but it could be much more serious than the previous ones. The crises of the late 1970s were said to have put an end to the Glorious Thirty. This concept, based exclusively on an indicator, GDP, which is far from representing all the characteristics of a country, is misleading since growth was strong because in the aftermath of the war, production was weak. It ignores cruel realities such as the stagnation of life expectancy, the ten thousand deaths each year on the roads or the tens of ...

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