At a time when the new French government is looking for measures to redress the public accounts, the publication of job creation figures in the United States (256,000) well above what was expected (190,000) has caused a rise in long-term interest rates that has had an impact on Europe. With growth and inflation both above 2% and near full employment, since the unemployment rate is close to 4%, the Federal Reserve has little reason to lower its key rates in 2025. Four reductions of 0.25% were previously expected. Only one drop is now likely but in reality ...

Continue reading

There have been no examples in the recent past when the world was going to be confronted with so many situations carrying major risks, on the political or economic level, the latter often stemming from the former. The will to power of some heads of State has been at the origin of tensions and even wars in recent years, as we have seen with Russia's invasion of Ukraine. The discontent provoked by the rise in unemployment and inequality, notably attributed to globalisation, has led to a strong increase in extremist parties at each election, leading them to the gates ...

Continue reading

EDF, the French electricity utility, is connecting this week the Flamanville EPR nuclear reactor to the grid. That good news, yet, is accompanied by the usual negative comments regarding the exceptional length of the works (a 12 years delay) and the construction huge cost overruns (10 billion). If these points are undisputable, they must not mask another very positive reality for France which so has reestablished its capacity to build nuclear power plants. This one had been seriously affected by several major strategic mistakes.

There was first the refusal, at the end of the Nineties, by the successive governments to ...

Continue reading