• Size up
  • Size down
  • Share this article
  • Print this page

Europe

United-Kingdom - Consumers' resilience under scrutiny

  • Edition April 10, 2017

    The resilience of the British economy in the post-referendum period has taken many by surprise. Some made rapid conclusions that ‘Brexit has had no effect on the economy'. To state this, however, is to voluntarily omit that Brexit has not yet occurred. We are still at the very beginning of the negotiation process, which started officially on 29 March. The main effects of the referendum result so far have been through foreign exchange.

    Extract

    Download publication - (Format PDF - 388.54 Ko)

World - Macroeconomic Scenario for 2017-2018: Aligning timescales

  • Edition April 3, 2017

    Politics is a long game, the financial markets an extremely short one. The economy could be said to be somewhere in between. It is necessary to reconcile the durations of those three games to compose an economic and financial scenario that does not bring too much dissonance. In such a scenario the cycle will prosper, and even strengthen, provided that political risks do not materialise due to a draconian tightening of financial conditions.

    Extract

    Download publication - (Format PDF - 989.31 Ko)

World - Macroeconomic Scenario for 2017-2018: Economic and financial forecasts

ECB - Tainted dove

  • Edition 10 March, 2017

    Sometimes the ECB feels it has to run away, it has to get away from the dovish stance it drove into the heart of the Eurozone. The dovish stance seems to be close to an end. It is losing its usefulness… The constructive ambiguity widely used by the ECB at today's press conference confirms our view that the ECB is almost at the peak of its accommodative stance: from now on, it will slow the expectations on monetary policy before actually – very gradually – removing the monetary support.

    Extract

    Download publication - (Format PDF - 116.63 Ko)

ECB: The cat that walked by himself

  • Edition March 8, 2017

    Rudyard Kipling's cat is the wildest animal of the Wet Wild Woods, not because he refuses to respect the bargain negotiated – on the contrary, he respects it whatever happens – but because he respects only the bargain and refuses to submit to any other kind of pressure: man's boot-throwing or the dog's bite. He is the cat that walks by himself. Mario Draghi is ready to do "whatever it takes", "whatever the ECB must", "without any limit" to respect the bargain negotiated in the European Treaty: price stability.

    Extract

    Download publication - (Format PDF - 173.3 Ko)

Italy vs Spain: do fundamentals justify trade?

  • Edition February 3, 2017

    Markets and institutional organisations favour a better recent dynamic in Spain, while Italy stands out as benefitting from a better status on various economic dimensions. Spain has started earlier implementing a series of post-crisis structural reforms, while Italy was standing on a better reform track in the 1990s. The latest impressive round of Italian structural reforms is too young to unveil their impact and has not been fully taken into account by observers.

    Extract

    Download publication - (Format PDF - 3.87 Mo)

United kingdom – So ambitious it could prove unrealistic

  • Edition 20 January, 2017

    On 17 January, UK PM Theresa May clarified the broad objectives of her government's plan for the Brexit. The UK will leave the Single Market and the customs union. It will seek a comprehensive free trade agreement with the European Union and ambitious trade deals with third countries. May also promised a parliamentary vote on the final terms of the Brexit.

    Extract

    Download publication - (Format PDF - 392.07 Ko)

Subscription

Follow the economic activity!

Sectors, regions, videos, graphics... all the economic information that you needs !

Already a subscriber ? Log in