Monthly Newsletter

Monthly Newsletter   The European "middle classes" are feeling the full force of the economic crisis. High unemployment, reduced purchasing power, sluggish growth...the difficulties encountered by these classes are a major challenge for political powers in the zone. Some even go so far as to suggest they cou... Read the rest

Monthly Newsletter   "Today people know the price of everything and the value of nothing!" This quotation from Nicolas Boileau (1) clearly sheds light on recent stockmarket rallies throughout the world.  Undermining the blackest forecasts of just a few weeks ago, company stock prices have picked up, despite... Read the rest

Monthly Newsletter   Ageing stockbrokers have regular meetings that they wait for nervously or with delight: the annual letter sent by Warren Buffett to his shareholders clearly belongs to the second category. The 2012 letter lived up to promises and starts with some skilful teasing: Warren Buffet has found ... Read the rest

Monthly Newsletter   If finance is now "faceless", the sentencing of its excesses is nevertheless slightly more visible every day! In France, this genuine "répression financière " causing pain to bankers and pleasure to campaigning politicians is not worth discussing in more detail given the extent of mes... Read the rest

Monthly Newsletter   In 1992, Bill Clinton was elected the 42nd President of the United States. At the time, the federal deficit totalled $290bn (4.7% of GDP) and the new President had promised to radically reform the state and reduce by half this deficit that was unsustainable over time. Six years later,... Read the rest

Monthly Newsletter   On 9 May 1950, Robert Schuman, the then French Foreign Minister, suggested the creation of a supranational high authority to manage German and French coal and steel production. At the time, Europe was struggling to recover and the political and financial interests of each member state we... Read the rest

Monthly Newsletter    Once upon a time in Baghdad lived a Caliph and his Vizier. One day, the Vizier came to the Caliph, pale and trembling: "Pardon my fright, Light of the Believers, but in front of the palace a woman bumped into me in the crowd. I turned around and this woman with pale skin and dark hair... Read the rest

Monthly Newsletter   The particularly disastrous stockmarket summer rapidly wiped out the relative serenity of economic forecasters during H1. After two months of decline, one question is on everyone's mind: what is the likelihood of a possible recession? 30%, 50%? And one factor is sure: the likelihood incr... Read the rest

Monthly Newsletter   On 9 September 1976 Mao Tse-Tung, "father" and venerated incarnation of the People's Republic of China, left our world. In a nod to history, Jacques Chirac resigned in the same year from his position as prime minister of France, a major power then building its first budget deficits.  W... Read the rest

Monthly Newsletter   3.4 kilos, 1,637 pages of A4 and 730,197 words: the flotation prospectus for GLENCORE is a reflection of the global commodities giant in its outsized and gigantic format. With its market capitalisation of £36bn, the king of trade is directly integrating the Footsie index and offering it... Read the rest