Reprendre le contrôle de l'énergie (le vrai moteur de l'économie, le cœur de la crise climatique...) : est-ce la clé de tout ? J'ai posé la question à @lucaschancel.bsky.social www.lemonde.fr/idees/articl...

France's political crisis has escalated into a regime crisis. At this point, the highest priority should be 1/ to avoid that the chaos brings the far right to power (no dissolution) and 2/ to ensure future 2027 elections can plausibly result in a functioning government in spite of fragmentation.

Le gouvernement par la dette est devenu un instrument de sécession sociale www.lemonde.fr/idees/articl...

This makes so much sense.

Les gens qui n’ont toujours pas compris qu'il fallait faire contribuer les très riches à l'effort commun ne comprennent rien à la France.

Draghi, one year after his report, still not mincing words on EU industrial policy: “Europe’s response has fallen into two traps: uncoordinated national efforts, or blind faith that market forces will build new sectors.” Amen!

The Fed’s future isn’t just about interest rates—it’s about power, politics, and the very purpose of central banking. 👀🍿 www.ft.com/content/2f38...

Capital won’t stop funding SUVs, private jets, and industrial beef—no matter how much the planet burns. We urgently need outright nationalisation of key industries, workplace democracy and credit guidance frameworks. Great article by @jasonhickel.bsky.social tribunemag.co.uk/2025/09/can-...

One point: central bank independence was the core tenet of neoliberalism, but it was the rise of market-based finance and the deflationary bias in fiscal policy, key features of the neoliberal era, that forced central banks into a position that made political backlash inevitable.

“Are central banks like the Fed really independent in the first place? If so, of what and whom? And what goals are they “independently” pursuing?” — @brettchristophers.bsky.social

European bank shares hit highest levels since 2008 https://on.ft.com/4onRmLi

Unlike today, central banks in the 1980s avoided financial losses when implementing anti-inflationary measures because they didn't remunerate bank reserves and their balance sheets didn'tt carry the legacy of a decade of large asset purchases at low interest rates/long maturity.

Sinds 2022 heeft de Europese Centrale Bank de rentetarieven fors laten stijgen. Dat heeft een negatief effect gehad op de energie­transitie, schrijven Sanders et al. esb.nu/monetaire-ve...

Nouvelle collaboration depuis la Grèce, par Basile Dekonink, à propos de cette information folle : les partis doivent un milliard d’euros aux banques, qui bénéficient de la complaisance des autorités politiques. www.mediapart.fr/journal/inte...

"The reason why it is tempting to imagine that we can just declare net zero unachievable and move on is that, for many politicians, it means being able to focus on the stuff that excites them" (...) "people do not go into politics because they want to manage crises " www.ft.com/content/c40f...

En effet trop peu de gens le savent! Il suffit de faire 10 contributions par mois à Wikipédia pour avoir accès ) tout un catalogue de revues academiques et journaux incluant par exemple Nature, Foreign Affairs, Gruyters... wikipedialibrary.wmflabs.org

Excellent résumé www.youtube.com/watch?v=slWp...

The Patriots, a far-right group that opposes the Green Deal, has ended up in charge of parliamentary negotiations on the EU's 2040 climate target. Centrist MEPs are up in arms. Free to read: www.politico.eu/article/far-...

There's no place for institutional finance in rental markets. It's a predatory extraction machine that robs the poor and middle. But one thing I'd add: we should stop calling these people "investors". They don't "invest". They buy up and milk existing assets. 🧵 www.theguardian.com/commentisfre...

Best description of the relevance of the "natural interest rate" in the ECB's strategic framework😂

Eurostat release today shows that renewable energy was the leading source (47.3%) of all electricity production in the EU. In contrast, coal-based energy production shrunk by 10-15%. ec.europa.eu/eurostat/web...

The ECB's strategy review results are out. Not a single mention of "supply" in the strategy statement -- which suggest to me they will continue to adopt a blind approach regardless of the specific characteristics of supply shocks. They have learnt nothing... www.ecb.europa.eu/mopo/strateg...

« Pour ce qui est des économistes écologiques hétérodoxes qui remettent en cause le système capitaliste, ils sont persona non grata dans la plupart des facultés d’économie, sans parler des grandes revues scientifiques. » (sans parler de la plupart des médias aussi) www.lemonde.fr/idees/articl...

Surprisingly good ECB blog post on the Weimar trauma: "it appears the experience of hyperinflation in 1923 did not immediately birth the policy lessons engrained within collective memory today" www.ecb.europa.eu/press/blog/d...

Higher rates delay the green transition.😱🤦‍♂️ “A 25 basis point rise in ECB policy rates was associated with -8% in new installed capacity for offshore wind and -26.5% for solar PV." "It is evident from our results that policy rate changes are not neutral with respect to energy technologies.”

A paper that should keep central bankers awake at night: "we demonstrate that traditional Taylor rules fail to stabilize inflation in both regimes [of persistent supply shocks]" Nice job @bde.es🇪🇸 ! repositorio.bde.es/handle/12345...

European industry is wrong to blame the Green Deal for its own failures, according to Ottmar Edenhofer, a leading climate economist. www.ftm.eu/articles/ott...

A simple, radical proposal by Olivier #Blanchard and Angel #Unide for creating a large, liquid eurobonds market. This would lift a key obstacle to the emergence of the euro as a major international currency and would help create an alternative to the dollar. www.piie.com/blogs/realti...

I doubt Christine Lagarde is seriously considering leaving the #ECB early to lead the WEF. But even entertaining the idea sends the wrong message: that central banking is just another elite stepping stone, not a public duty. The ECB needs credibility, stability—and leaders who stay the course.

"opposing Eurozone bonds outright would mean missing out on a much bigger opportunity that would benefit frugal countries." www.ft.com/content/dc3a...

Voilà, on se retrouve la semaine prochaine avec ma série documentaire diffusée sur France Culture bien sûr. Les épisodes seront en ligne lundi 26 après 18h.

"When inflation and production move in the same direction, the central bank does not have to make a trade-off between stabilising inflation and production. But in cases of supply shock, a trade-off must be made between stabilising inflation and production." www.riksbank.se/en-gb/press-...

Plus que quelques milliers de signatures pour valider l'invitative Citoyenne Européenne pour interdire les "thérapies" de conversion visant les personnes LGBTQ... 🤞🤞 Mais la date limite c'est DEMAIN !! 😯 Vous aurez bien 3 minutes à y consacrer ? 😉 eci.ec.europa.eu/043/public/#...

There's still time to sign up for our event in Brussels this week! Join us on 15 May for a lively afternoon of discussion on how the EU's macroeconomic framework should evolve in the 21st century. Find out more about our panelists and sign up here: www.eventbrite.com/e/eu-macroec...

Absolute must read! #ECB

‘Sitting ducks’: the cities most vulnerable to climate disasters https://www.ft.com/content/57835a0c-9e58-4c1a-9c5a-f6a4cbe3f748

Tomorrow, the @ecb.europa.eu Gov Council starts its annual retreat. On the agenda: the first strategy review since the post-pandemic inflation wave. Today, we're publishing @jvtk.bsky.social's report on the review. How can the ECB better deliver price stability? Here's the gist 👇🧵. Link at end 1/9

"If Weber succeeds, his post will be equivalent – perhaps superior? – to national party leaders like Germany’s Friedrich Merz and Italy’s Antonio Tajani – at least in his fantasy." www.euractiv.com/section/poli...

#BREAKING Six to 10 hours needed to restore Spain power: grid operator

Slovak court revives corruption case against central bank chief

Triste nouvelle.

La Matinale Européenne est sortie. L’analyse du jour signée @cspillmann.bsky.social: « Macron, une vision européenne sans lendemain ». Abonnez-vous! 👇 lamatinaleeuropeenne.substack.com/p/macron-une...

"Ørsted wants European governments including the UK to commit to backing 10GW of offshore wind annually between 2031 and 2040 via contracts that guarantee developers a fixed price for electricity." www.ft.com/content/ce2d...

Exactly.

Une fois de plus on constate qu'un très grand nombre de nos politiques souhaitent que les peines d'inéligibilité ne s'appliquent qu'à ceux qui ne font pas de politique.

"Il crée une classe de rentiers qui consacrent plus d’énergie à contourner l’impôt et à protéger leur patrimoine plutôt qu’à investir dans des activités productives.[...] Il génère une classe de non-privilégiés [...] qui désemparés, finissent par se tourner vers les partis contestataires."

To be really clear, if you want to achieve the goals of the directives you need to first transpose them. If you want to transpose them you need to stop changing them. Seeking perfection in legislation is a choice to not implement the legislation.

Excited to share my latest publication, written with colleagues from the New Economics Foundation (@sebmang.bsky.social and al) exploring why monetary and fiscal policies need to work together to improve inflation management. 🧵👇 #Inflation #MonetaryPolicy #CentralBanks

Some creative thinking from @andrewduffeu.bsky.social on how to make Article 7 proceedings work despite Hungary and Slovakia having each other's back. Exactly the thinking we need in these times.