Editorial : France, an effort under scrutiny

  • Public deficit is back in the range of 4% of GDP. Though public debt approaches 95% of GDP.

Overview : France-Germany, common point of view ?

  • The “responsibility pact” proposed by French President François Hollande was perfectly designed to please Berlin.

The week in the US : A smooth operation

  • On January 28th and 29th, Ben Bernanke will chair the FOMC meeting for the last time, as Janet L. Yellen will succeed him a few days later.

The week in the Euro zone : Understanding the core inflation dynamics

  • Eurozone core inflation (ex food and energy components) declined to 0,7% in December a new historical low.

Focus1 : With an eye on Ireland

  • A clean exit from the current EU-IMF program without any further aid is now also a feasible option.

Focus2 : Latvia: not so much a model as an exception

  • Latvia became the 18th member of the euro zone on 1 January. After a testing period of economic adjustment from 2008 to 2010, it has been enjoying strong growth.

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