Olivier

Klein

06.23.2025 2 min

ConjonctureEconomical policy

Non-Bank Financial Institutions: A Systemic Risk to Watch

Since the global financial crisis, non-bank financial institutions (NBFIs)—including pension funds, insurance companies, hedge funds, private debt funds, and others—have significantly increased in importance....

06.18.2025 2 min

Economical policy

Some Truths to Escape the French Deadlock

It is employment, coupled with growth, that serves as the most effective lever against poverty, for social mobility, and for the sustainability of both...

06.09.2025 3 min

ConjonctureTeaching

Is the Future of Democracies at Risk?

Democracy is under attack from autocracies. More worryingly, it is increasingly being questioned from within democratic nations themselves. At the very least, distrust toward...

05.15.2025 3 min

ConjonctureEconomical policy

THE FRENCH MODEL: FROM EXCESS TO NECESSARY RENEWAL

The European model, and especially the French one, of political, economic, and social regulation is undergoing a profound crisis. Under the pressure of its...

05.02.2025 2 min

ConjonctureEconomical policy

THE DOLLAR-BACKED STABLECOINS: A NEW STRATEGIC WEAPON FOR THE UNITED STATES

The United States has experienced a very sharp increase in its net external debt-to-GDP ratio, rising from about 20% to 80% between 2000 and...

04.11.2025 5 min

ConjonctureEconomical and financial crisis

Trump: Consistent Concerns, Inconsistent Actions?

Trump is right to be concerned about the unsustainable trajectory of U.S. public and external debts. Recent days have shown that financing these debts...