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 [...]

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 [...]

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 [...]