The heat wave that is hitting Europe and France in particular is a manifestation of the climate change that is affecting the planet. It is becoming more and more difficult, even if other violent events have occurred in the past, such as in France during the summer of 2003, to contest the role of the accumulation of greenhouse gases in the atmosphere. But the reactions to the current crisis show the great confusion that exists between what needs to be done to curb this accumulation and the measures to be taken to mitigate its consequences in a country.

The accumulation ...

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The downward revisions to French growth in 2026 by INSEE (0.7%) and the Banque de France (0.5%) are justified by the deterioration in the international environment since the outbreak of the war in the Middle East. The rise in oil prices has weighed on household purchasing power and corporate margins. Uncertainties about the world economy have prompted economic agents to be more cautious and therefore to reduce spending and recruitment. The lull after the conclusion of a program of talks between the United States and Iran has allowed oil prices to fall but has not removed concerns.

These ...

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The European Central Bank's decision to raise its base rates by 25 points has drawn a lot of criticism. It justified it by the persistence of an inflation level above 3% in the euro zone, well above the 2% threshold that it has set itself as a target, in accordance with its status. But this inflation comes in a context of economic stagnation and not at a time when excess demand in Europe is at the origin of price increases.

A debate of the same intensity exists on the other side of the Atlantic, but in a completely different ...

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