Government satisfaction expressed during last council of Ministers at the Elysée palace this week, after the publication of the first estimation of 4th quarter (+0.2%) and last year (+1,1%) growth was not justified. Official comments which were accompanying it gave a too favorable presentation of the reality. They were not convincing since they depend on the basis of the comparison. The result is higher than in 2014 (+0.2%) but it was not very difficult. On the opposite, our major competitors did much better, the U.S. and the U.K. both were around 2.5% and ...

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Le 8 janvier prochain, à Jarnac, sera commémoré le vingtième anniversaire de la mort de François Mitterrand et le 26 octobre les cent ans de sa naissance. Ces évènements seront l’occasion de la publication de nombreux ouvrages, parfois critiques, n’en doutons pas, mais qui tous reconnaîtront la dimension historique de cet homme qui aura marqué la vie politique française durant la deuxième moitié du XXème siècle. 

En même temps, nos dirigeants, c’est devenu une sorte de tic de langage, à l’approche de chaque échéance électorale, vont stigmatiser ...

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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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