France needs a narrative
The vocal transcription is done via an AI The new French Prime Minister will be faced with the management of public finances. The question must be understood in three dimensions.…
Philippe Waechter's blog
The agreement between the European commission and the Italian government is a bluff
Despite the agreement between the Italian government and the European Commission, the question of the Italian public debt sustainability is not solved. The marginal move from the government (reducing its…
Italy: Growth expectations are too optimistic
Here is the frightening part of the Italian budget: growth figures. In an interview Giovanni Tria said that growth forecasts for 2019 and 2020 were 1.6% and 1.7% respectively. These…
Seven points on Italian budget announcement risks
The Italian budget program, which sets out a budget deficit of 2.4% of GDP for 2019, 2020 and 2021, did not go down very well with investors. Uncertainty on Italy…
Soaring US deficit is a source of concern
When our grandchildren study economics one day, will they systematically have to add a dummy variable* to their econometric equations for the period covering the Trump administration? Will the US…
Public deficit in France, Economic Apathy and Italian politics – My Monday column
Is the French economy becoming virtuous? With the public deficit falling below the 3% mark, it is tempting to think so… 2.6% for the full year 2017 and 2.1% for…