In April, French 10 years Bonds interest rate has fluctuated between -0.07% and +0.08%. That astonishing stability brings at first a serious denial to these who for years are announcing that low rates are a disorder and that they will inevitably rebound. The situation is not characteristic of France. In several other European countries, sometimes more indebted, rates remained at a very low level. In the United States, uncertainties about the new president economic policy and his ability to make it approved by the Congress had brought some volatility. But the 10 years Bond has never exceeded 1 ...

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When he was going to East-Berlin, a few months after the fall of the Wall, the attention of the visitor was attracted on the large city squares by the queues around trucks which have been transformed in travel agencies. Berliners would, at last, can see again their closed relatives or discover neighboring countries. But it was not all. Women were also pressing themselves around street desks set to buy tights. Their sale had been forbidden by the regime because this consumption habit was imported from capitalist countries. So their political leaders didn’t deprive themselves to intervene on the most ...

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The governments action against the economic consequences of the pandemic is testifying of a deep disruption in the principles which have been, for near half a century, the foundations of economic policy. They have put at the disposal of enterprises and employees the financing allowing them, for the time being, to cope with the activity fall and the employment cuts resulting from it. The State-guaranteed loans allowed banks to support their clients without taking themselves risk. Its taking of part-time unemployment benefits financing had the same purpose: they offered to enterprises the possibility to keep their employees without affecting the ...

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