Social unrest is beginning to be perceived by the financial markets and economy as a possible trigger for the famous 2020 crisis: Demonstrations, increased public debt, budgetary crises, the redirection of debt from private to public, austerity, loss of confidence of economic and financial players, bankruptcies etc… In a context of economic slowdown, rising discontent may well turn out to be the straw that breaks the camel’s back. This observation has the potential to mobilise the will to curb said discontent, but the causes need to be properly understood, which is not the case.
This rather gloomy anticipation is offset by an optimistic look at the prospects for reinventing the euro that are emerging with Mrs Lagarde’s arrival at the ECB. In her suitcase, she certainly has plans for a digital euro, the ramp-up of which we have been anticipating for a year now and which has recently become the subject of a vigorous appeal by the German banks. Thus, we see a transformation of the eurozone into the eurozon approaching…. (the key to this word play will be found in this issue).
We are still as concerned about India as ever and the characteristics of the new government deserve attention. Not to mention our usual investment recommendations, of course.
Main titles of this coming bulletin:
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