The most indebted countries, which include France and Italy, should take advantage of the current upturn to consolidate their public finances. The French Government’s commitment to bring the public deficit below the 3% threshold this year is a positive step. It prepares the country for the future and enables it to regain credibility in Europe.
Is the lure of protectionism a threat to the global economy? At the global level, this temptation is very strong. And that’s a serious problem. The global economy needs cooperation. We were only able to overcome the 2007 crisis through a collective commitment, in particular from the G20 and the Financial Stability Board, to resist protectionism and respect common financial standards.