Whatever happens…

On this day of the American elections, markets are opting for a clean and flawless victory. Whoever wins, some tough realities will persist. Too late to gamble, and too early to get an idea of [...]

A contactless world

The pandemic has accelerated the digitalization of our relationships. What will be the winning models of this transformation? It is an understatement to say that the social distancing imposed by [...]

The pirate bounty

Is the pirate strategy, which Boris Johnson is draging the UK into, worth it? International and trade relations have never been a ‘gala dinner’[1], that is a fact. But the bill, approved by the [...]

Europe’s Winston

It is certainly not the debacle, but Europe is being tested. 80 years on, will Angela Merkel emerge as a modern Churchill? Angela Merkel’s Germany has just taken over the Presidency of the [...]

Protectionist contagion

Reclaiming economic sovereignty, protecting jobs … The virus of protectionism is spreading in doses that are less and less homeopathic. The evidence is more striking every day: the Covid-19 [...]

The Green momentum

More than ever, climate change is on the agenda. Investors intend to contribute. Will they have a decisive influence? The confinement reduced the “earth overshoot day” by three [...]

Against the tide

Alberto Alesina advocated for a well understood and well-managed austerity. Against the tide today, will it soon be in the wind? Will there be an “Alesina moment” as there was a [...]

Magic Money

The COVID crisis whets the most extreme appetites in favor of money creation. But remember that there is “no such thing as a free lunch”… From “helicopter money” to debt [...]

A “menage à trois”

More than ever in a position of strength at the end of the first phase of the COVID-19 crisis, will Angela Merkel be able to plug its cracks? She is not the only one, but during this crisis, [...]

It ain’t over yet…

An interview by Swiss journalist  Yves Hulmann for allnews.ch, on May 12, 2020 For Valérie Plagnol, the action of central banks underpins the rebound in the markets. The lack of visibility [...]

Don’t shoot the ambulance

After a moment of suspense, Italy has just seen its note confirmed by the credit agencies. Was it really necessary to reach these extremes? Italy, confined since March 9, did not need this! Since [...]

Banks, the return to grace

Banks, vectors of monetary creation, are on the front line in the COVID-19 crisis. The opportunity to settle the accounts for 2008. With rates already below zero, the European Central Bank has [...]

Flooded with cash

Central banks have become “lenders of first resort”. Shouldn’t they return this role to traditional banks? Containment will surely have unexpected effects. It may be that the [...]

Asia, shock in return

The battle against the Covid-19 is far from won in Asia. But China is already trying to write its history. Captured by our own fight against the Covid-19, subject to the constraints of [...]