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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The fact that the President of the United States did not consult or at least inform European leaders of the launch of military operations in Iran did not surprise anyone. However, the continent, which imports almost all of its fossil fuels, will be one of the regions of the planet that will bear the heaviest economic consequences. This situation is to be compared to the White House's taking charge of discussions with Moscow with a view to finding a way out of the war in Ukraine and where Europe, although directly concerned, is kept on the sidelines. This can ...

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After two consecutive years of recession, the Bundesbank expects only a very weak recovery in growth in 2026, i.e. 0.6%. Germany is thus one of the worst performers among European economies. Long cited as an example for the rigour of its management, its controlled inflation and its large trade surpluses, the country now appears to be the sick man of Europe because it does not seem prepared to respond to the challenges caused by the fragmentation of the world economy and the growing competition from Chinese companies.

This is not the first time that its status as a ...

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