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Philippe Waechter's blog

DIRECTOR OF ECONOMIC RESEARCH, OSTRUM AM

A dynamic and cyclical approach to the global economy

  • 0 views

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…

READ
  • Social Dynamics
  • Social VAT
  • 4 views

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
  • 8 views

The nagging problem of public finances in France

  • 6 May 2025
  • France

Philippe Waechter

The IMF is skeptical about the French ability to control their public finances. According to April projections, the public deficit would remain close to 6% of GDP until 2030. This…

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  • Public Finance
  • Public Finance Sustainability
  • 33 views

Carbon footprint: 8 Tons is a lot or not?

  • 2 October 2023
  • Climate

Philippe Waechter

In France, the average carbon footprint is around 8 tons (8.2T) per year per person.This was the result of a survey conducted by CITEPA and the Association pour la transition Bas Carbone…

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  • Carbon Footprint
  • Carbon neutrality
  • Energetic Transition
  • 65 views

The Euro Area creates more jobs than in the US. Is it efficient ? What about France and its specific labor market ?

  • 19 August 2022
  • Euro Area

Philippe Waechter

Employment is growing in the Eurozone and activity is growing rapidly despite the crisis in Ukraine. However, the room for manœuvre in the management of the economy is limited. Very…

READ
  • Employment
  • GDP
  • Labor Market
  • Productivity
  • Vacancy rates
  • 59 views

In January, the business situation is robust in the Eurozone

  • 24 January 2022
  • Euro Area

Philippe Waechter

The Markit index for the entire economy of the Euro zone dipped in January 2022. It stood at 52.4, losing almost one point compared to December. Economic activity continues to…

READ
  • Germany
  • Inflation
  • Markit Surveys
  • 91 views

Activity is running out of steam in Europe, the 5th wave is the explanation

  • 16 December 2021
  • Euro Area

Philippe Waechter

The uncertainty linked to the new variant of the Covid weighs on economic activity in December.All the survey indicators for the month are deteriorating. This is particularly the case for…

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  • Business Climate
  • INSEE
  • Markit Surveys
  • United Kingdom
  • 231 views

From Yesterday to Today – November 3 – France, its Public Deficit and the fragility of the Euro Area

  • 4 November 2020
  • France

Philippe Waechter

The IMF suggests that France should revive its economy but also should plan a strategy to rebalance its public finances as soon as activity picks up. Its fear is a…

READ
  • Euro Area
  • Public Finance Sustainability
  • Sovereign Debt Crisis
  • Structural Deficit
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