Europe must write its own narrative to continue to exist
What is the relative importance of economics and politics in European integration? In a world of power dynamics as it is now emerging, Europeans need a shared narrative, an ability…
Philippe Waechter's blog
The conflict ends, what are the consequences? – Part 1
Statements from the White House suggest the situation could evolve rapidly. The American strategy is encountering an effectiveness problem, and Donald Trump has backtracked on the urgency he emphasized at…
The ECB and Inflation
The European Central Bank is meeting today. In her press conference, Christine Lagarde will clarify the ECB’s position on the crisis stemming from the conflict in Iran. She will also…
The fragmentation of the world
In the week following the start of the conflict in Iran, economic issues resurfaced. Energy prices rose sharply, reminiscent of the surge seen during Russia’s invasion of Ukraine. The risk…
The question of sovereignty
Global interdependence creates vulnerabilities, as the post-pandemic period clearly demonstrates. States seek to mitigate these vulnerabilities, while at the same time, citizens want to regain control over decisions that affect…
Conflict, Energy and Inflation
The Middle East conflict between Israel and the United States on one side and Iran on the other has caused energy prices to surge. Everyone then recalled what happened in…
When will we see a strict budget? 2028 at best
The budgetary episode in France is over for 2026, but the battle is not over because long-standing questions have not been answered. 1- Stabilizing the public debt-to-GDP ratio. A few…
European inflation below 2% in January
The inflation rate in the Eurozone was 1.7% in January 2026. This figure should be compared to 2% in December 2025 and 2.1% for the whole of 2025. The underlying…