Germany has everything to lose
July 14, 2025It’s Germany that has the most to lose from the 30% tariffs imposed by the USA: just look at its gigantic trade surplus with Trumpian lands. For at least 20 years—through hundreds of articles, countless conferences, and interviews—I have been warning: Europe must not give in to German pressure, which seeks to turn it into…
Pitiful Germany
December 17, 2024Germany is now heading toward early elections. Chancellor Scholz has lost the confidence vote in Parliament, signaling the end of the coalition that had already collapsed on November 6. The main issue? In short, the budget, and especially the famous “debt brake” that was enshrined in the German constitution under Merkel. The federal budget…
The return of sick man of Europe
July 13, 2024In an environment where the German economy is extraordinarily energy-intensive, while the dogmatic policies of the Greens dramatically penalize all economic actors, company bankruptcies are reaching record and frightening levels in a Germany that is literally on the path to deindustrialization. Merkel will have many accounts to settle with History.
Europe, the eternal indecisive
May 10, 2024The interests only on their public debt has cost the United States more than $1 trillion in the past 12 months, and these amounts are condemned to increase due to the maintenance, for some time still, of the current level of interest rates. But it doesn’t matter: they have the King $. While we…
The Ravages of Economic Dogmatism
April 20, 2024They have brought Europe to a standstill. The productivity differential is widening further every quarter between us and the United States, who are racing ahead, far ahead of the European Union with their 2.6% growth compared to the pitiful European regression of 1.2%. Mario Draghi warned us a few months ago, stating that…
The Year 0 of Germany
March 20, 2024This is striking! The energy crisis of 2022 has been the worst economic crisis in Germany since WWII when looking at the decline of real wages. The increase in the price level is very likely permanent – those with savings have unexpectedly lost some of their purchasing power. The real estate owners (upper middle class)…
Germany holds back Europe
January 21, 2024The most serious economic mistake of Germany in the last 20 years. Celebrated at the time as a victory for fiscal and budgetary discipline, breaking away from the carelessness attributed to the vast majority of European Union members strongly encouraged to follow suit. Engraved in the marble of the Constitution. Today, German politicians no longer…
These Germans insulting Keynes and the citizens of Europe
June 8, 2021On June 2nd Wolfgang Schäuble, President of the German Bundestag and former Minister of Finance of the country decided to pen a piece for the Financial Times where he invokes multiple times the spirit of the great Keynes, quoting him on no less than six occasions!
Germany is drowning in its ordoliberalism
December 31, 2019Do the Germans, who in their overwhelming majority are staunchly opposed to what they call the “Haftungsunion”, also known as transfer union implying that their country pays too much money into Europe, live in a parallel universe? Might the Germans have become populist in that they don’t hesitate to dig up a specious, fallacious, facile…
German ordoliberalism versus French Etatism
February 20, 2019If a referendum was to be organised in France off the back of a widescale national debate, and if President Macron really wanted to bring the country closer to a politics that clearly favoured growth and therefore buying power, the vote would have to centre around EU regulations on public deficits and on changing the…