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Philippe Waechter's blog

DIRECTOR OF ECONOMIC RESEARCH, OSTRUM AM

A dynamic and cyclical approach to the global economy

  • 2 min

What narrative for Europe? Interim remarks – Part 2

  • 5 June 2025
  • Euro Area

Philippe Waechter

The third part of the story is cultural and societal. Europe has been a leader on many social issues such as divorce, abortion, gender issues, freedom of expression, and intergenerational…

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  • Europe
  • 2 min

What narrative for Europe? Interim remarks

  • 4 June 2025
  • Euro Area

Philippe Waechter

What kind of story does Europe want to be part of? This is the narrative that must be constructed. Relations with the United States, which defined the Western world even…

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  • Europe

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  • 2 min

Europe must create its own narrative

  • 2 June 2025
  • Euro Area

Philippe Waechter

Relations between the United States and Europe have changed dramatically since Donald Trump’s arrival in office. His desire to implement 50% tariffs is a testament to this.Historically, the ties between…

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  • Europe
  • 2 min

A new growth model in the Eurozone?

  • 30 May 2025
  • Euro Area

Philippe Waechter

A country’s growth can be broken down into three factors. The first is productivity, calculated as output per job; the second is the employment rate, the share of employment in…

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  • Demographic
  • Growth
  • 2 min

Europe is becoming Americanized, and not for the better

  • 29 May 2025
  • Climate

Philippe Waechter

Climate change must return to the forefront following the publication of the World Meteorological Organization (WMO). The institution points out that 2024 was the hottest year on record, with an…

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  • Climate Change
  • Energetic Transition
  • 2 min

The question of the social model in France – Social VAT

  • 28 May 2025
  • France

Philippe Waechter

The level of social spending is subject to only marginal reforms since the objective is to curb its progression rather than to reverse the trend, which is probably not sustainable…

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  • Social Dynamics
  • Social VAT
  • 2 min

The question of the social model in France

  • 27 May 2025
  • France

Philippe Waechter

The continued deterioration of public finances raises the question of financing the social model. As a reminder, social spending represented 1% of GDP in 1938, 15% in 1960, 25% in…

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  • Social Dynamics
  • 2 min

Europe facing itself

  • 23 May 2025
  • Euro Area

Philippe Waechter

The milestone has been reached. Donald Trump has indicated that he wants 50% tariffs on products from the European Union as of June 1st. This tariff, announced on April 2nd…

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  • Europe
  • Tariffs
  • Trumponomics
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