Does the debt wall exist ?
The public debt wall is the feeling of excessive constraint limiting the government’s ability to carry out its policies. Too much debt would limit its capacity for action. Public debt…
Philippe Waechter's blog
François Bayrou and the wall of debt
The public debt wall is not yet a reality, nor is the call for the IMF to manage French public finances. The state is not unable to meet its commitments.…
Draghi lights up Europe once again
“These events – Ukraine, customs duties, etc. – have put an end to any illusion that the economic dimension alone would be able to guarantee any form of geopolitical power.”…
Powell at Jackson Hole… and then what?
Tonight in Jackson Hole, Jay Powell will deliver his final speech in this central bankers’ lair. It’s often an important venue for getting messages across. Draghi, Bernanke, Yellen, and even…
Three questions for back to work – France – Part III
The government’s commitment in the 2026 budget is a deficit of 4.6% of GDP compared to 5.4% in 2025. A saving of almost 44 billion compared to 2025.The long-term goal…
Three Questions for Back to Work – Europe – Part II
Europe’s strategy changed rapidly during the summer. The Draghi report had generated enthusiasm about Europe’s ability to become more self-sufficient in generating new revenues. Insufficient innovation was the key to…
Three Questions for Back to Work – Part 1
The new school year is upon us, and with it a whole series of questions about the evolution of the global economy and each of its components. As a European,…
Culture at the heart of the economic system
Culture is the key to understanding the process that led to the Industrial Revolution. This is the theme of Joel Mokyr’s book, “The Culture of Growth.” His message is that…