The debate which took place during the last European economy ministers meeting about digital enterprises taxation has not found a conclusion, despite the European Commission support. International context was definitely not favorable. Most of these companies being American, a decision carried the risk to look like a riposte to Donald Trump protectionist moves when Europe was negotiating an exemption for the duties on aluminum and steel. It was useless to give the impression to outbid and to increase tensions when financial markets are nervous and fear the launch of a real trade war which would have negative consequences on growth ...

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The in principle provisional agreement between CDU-CSU and SPD to form a large coalition in order to govern Germany which has been settled before the last weekend is a first step. SPD, during a meeting which will occur January 21^st has still to approve it. Already, during the last days, conflicting voices expressed themselves inside the party. If, at the end, green light is given, a deeper negotiation which could last during some more weeks will occur and, maybe, permit to form a government and put an end to the longest political crisis Germany has known since the war ...

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To the opposite of what we frequently hear, the end of inflation is good news: it will not announce a long stagnation period but corresponds to the new situation of developed economies. It can lead to a long phase of prosperity if consequences have been identified and appropriated policies have been adopted.

Among the causes of inflation first appears, in theory, the supposed scarcity of raw materials and the difficulties to adjust supply and demand. Even if we don’t come back to the pessimistic assertions of the “Club de Rome” which, in the middle of the Seventies, maintained, without ...

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