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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According to figures published every day by the Agence France Trésor, which manages France's public debt, the rate on 10-year government bonds (OATs) reached 3.59% on December 11, after 3.61% the day before, the day after the National Assembly adopted the Social Security financing bill. This was the highest level in recent years and 0.3% higher than the rate observed at the beginning of the month. Does this market evolution reflect an increased mistrust of the French economy, when one could have legitimately hoped the opposite after the success achieved by the government?

Certainly not ...

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In a world marked by military and commercial conflicts with serious economic consequences, close cooperation between European states has never been so essential, but never have the institutions created for this purpose appeared so incapable of responding to these challenges. By invading Ukraine, Russia had disrupted the conditions of access to fossil fuels. By triggering a trade war, Washington was disrupting the supply chains of European companies. By transforming its economic model, China had allowed the birth of industrial groups taking advantage of the size of their domestic market and posing a threat to their European counterparts.

Since its creation ...

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