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Stéphane Lauer

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'The issue is not so much to stabilize the debt to please France's creditors or Brussels, but to stop the decline'

Increased public spending and higher tax rates have only created the illusion of a productive system and effective public services. These measures have not enabled us to prepare for the future, writes Le Monde columnist Stéphane Lauer.

Published yesterday at 8:28 pm (Paris) Stéphane Lauer

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'By challenging the Fed's independence, Donald Trump is taking a dangerous gamble'

Repeated attacks on the central bank, meant to force it to lower interest rates, in defiance of economic data, threaten financial stability. Disregarding reality for political convenience can have dramatic consequences, writes Le Monde columnist Stéphane Lauer.

Published on September 2, 2025, at 2:23 am (Paris), updated on September 2, 2025, at 7:30 am Stéphane Lauer

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'As Luca de Meo abandons ship, Renault's future remains highly uncertain'

The CEO of the French automaker will join the luxury group Kering in September. The Italian executive is known for turning around struggling companies, and though he reshaped the automobile brand sometimes for the better, it was more often toward the unknown, writes Le Monde columnist Stéphane Lauer.

Published on July 1, 2025, at 1:48 am (Paris), updated on July 4, 2025, at 10:53 am Stéphane Lauer

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'On the budget, Donald Trump's obsession consists of fulfilling impossible campaign promises'

After 150 days in office, doubts about the US economic policy are mounting. Widespread uncertainty, serious damage to the country's credibility, and the rising deficit threaten the international financial system's stability, writes Le Monde columnist Stéphane Lauer.

Published on June 16, 2025, at 8:00 pm (Paris) Stéphane Lauer

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'It is Europe that holds the key to the sanctions mechanism against Russia, not the US'

As ceasefire negotiations with Ukraine ramp up, the future of Western sanctions against Putin's regime is in question. Washington can decide to lift some constraints, but it has few levers to influence the Russian economy, writes Le Monde columnist Stéphane Lauer.

Published on April 7, 2025, at 3:00 pm (Paris), updated on April 7, 2025, at 3:00 pm Stéphane Lauer

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'Trump will make the US fall behind in the strategic battle of decarbonization'

Instead of supplanting Chinese power, as he claims to be doing, Donald Trump is giving it an extra boost by favoring fossil fuels, writes Stéphane Lauer in his column.

Published on March 24, 2025, at 5:04 pm (Paris) Stéphane Lauer

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'Trump follows a paranoid, erroneous and inadequate view of the economy'

The widespread and erratic trade war started by US President Donald Trump has been instilling a sense of chaos, all while having no chance of solving the country's very real problems, writes Le Monde columnist Stéphane Lauer.

Published on March 10, 2025, at 3:00 pm (Paris) Stéphane Lauer

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'Trump's economic policy lacks any coherence'

One month into the American president's return to the White House, the world is divided between astonishment and fascination. Meanwhile, inflation is rising again, and the effectiveness of public spending cuts remains a facade, says Stéphane Lauer.

Published on February 25, 2025, at 4:00 pm (Paris), updated on February 26, 2025, at 5:03 pm Stéphane Lauer

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'France's 2025 budget is an uneasy compromise, lacking direction, courage and a structural remedy'

Without a complete overhaul of the financing of our social model, France will be unable to regain control of its public finances, writes Le Monde columnist Stéphane Lauer.

Published on February 11, 2025, at 5:00 am (Paris) Stéphane Lauer

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'Abandoning Greenland to Donald Trump's appetite would be a fatal mistake'

Plans to annex territory under Danish administration risk opening a Pandora's box of irredentism. The right of people to self-determination and the environmental disaster that would result have been ignored, explains Le Monde columnist Stéphane Lauer.

Published on January 27, 2025, at 4:44 pm (Paris), updated on February 25, 2025, at 3:27 pm Stéphane Lauer

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'The worrying chokehold of tech tycoons on political power'

The transition between Biden and Trump's presidencies has been marked by conflicts of interest and the distribution of stipends to the benefit of Silicon Valley executives, writes Le Monde's Stéphane Lauer.

Published on January 13, 2025, at 4:56 pm (Paris), updated on January 13, 2025, at 11:36 pm Stéphane Lauer

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'Nissan misjudged its vulnerability by unraveling its alliance with Renault'

The Japanese group has been forced to join forces with its compatriot Honda, a marriage that makes little industrial sense. As for the French automaker, it has found itself isolated, fragile and limited in its ability to make the transition to electric vehicles, writes Le Monde columnist Stéphane Lauer.

Published on January 2, 2025, at 4:18 am (Paris), updated on January 2, 2025, at 9:16 am Stéphane Lauer

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"Moscow has not finished paying the price for its 'special operation' in Ukraine"

Contrary to the propaganda, when Russia comes to the table of future peace negotiations, it will now be threatened by stagflation and having suicidally bankrupted its future, explains Le Monde columnist Stéphane Lauer.

Published on December 17, 2024, at 9:12 am (Paris) Stéphane Lauer

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'Trump's election could be a wake-up call for Europe, or accelerate its decline'

The EU needs to come up with a response to the threat posed to the global economy by US protectionism and demonstrate that it is capable of turning this risk into an opportunity, argues Le Monde columnist Stéphane Lauer.

Published on November 18, 2024, at 11:12 am (Paris) Stéphane Lauer

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'The US presidential campaign resembles an unfunded quest for a lost paradise'

Kamala Harris and Donald Trump are proposing increased spending as if deficits didn't matter. Despite the US not being at war or in recession, the federal government is borrowing heavily, writes Le Monde columnist Stéphane Lauer.

Published on October 15, 2024, at 6:00 pm (Paris) Stéphane Lauer

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'The current situation should spur France's political leaders to abandon dogmatism on tax hikes'

Faced with a budgetary situation that has significantly deteriorated, tax increases seem unavoidable in France. To be acceptable, however, they must meet a number of prerequisites, writes columnist Stéphane Lauer.

Published on September 28, 2024, at 12:45 pm (Paris), updated on September 28, 2024, at 12:45 pm Stéphane Lauer

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French elections: 'The solutions proposed to the French are ill-suited to the challenges facing the country'

In his column, Le Monde's Stéphane Lauer writes that the policies put forward by the far-right Rassemblement National and the left-wing alliance Nouveau Front Populaire make it seem as if France didn't have European commitments.

Published on July 1, 2024, at 6:09 pm (Paris) Stéphane Lauer

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'Attributing the fragility of the EU automotive industry to unfair Chinese practices is a bit short-sighted'

The EU's decision to increase customs duties on Chinese electric cars will not exempt Europeans from making an effort to catch up from behind on the industrial and technological race, writes columnist Stéphane Lauer.

Published on June 19, 2024, at 3:10 am (Paris), updated on June 19, 2024, at 11:00 am Stéphane Lauer

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'Debt is the blind spot in the US presidential election'

The IMF is concerned about the impact of the current large US fiscal imbalance on global financial stability. But neither Joe Biden nor Donald Trump seem ready to tackle the problem.

Published on May 13, 2024, at 11:25 pm (Paris), updated on May 14, 2024, at 8:40 am Stéphane Lauer

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'In the China-US battle over TikTok, bad faith is most shared'

Behind legitimate concerns about China's social media network lies American frustration about a success that could challenge their technological hegemony, writes Le Monde columnist Stéphane Lauer.

Published on May 2, 2024, at 5:06 am (Paris), updated on May 2, 2024, at 7:47 am Stéphane Lauer

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'Only an integrated capital market will give the EU the means to achieve its ambitions'

The 27 EU member states must use the April 17 competitiveness summit to push for the completion of this massive undertaking, essential for achieving the strategic autonomy Europe seeks, explains Le Monde columnist Stéphane Lauer.

Published on April 16, 2024, at 4:11 am (Paris), updated on April 16, 2024, at 8:10 am Stéphane Lauer

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Renault CEO Luca de Meo: 'We want fair competition with China. But this is not fair'

The CEO of Renault and president of the European Automobile Manufacturers' Association is worried about the European Union's inadequate response to China's dominance of the electric car industry.

Published on March 19, 2024, at 10:24 am (Paris), updated on April 17, 2024, at 3:25 pm Sophie Fay Stéphane Lauer

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'Europe's economic stagnation is no longer a risk but a reality that needs to be urgently tackled'

Since 2000, the eurozone's growth has lagged behind the US by 17%, highlighting its vulnerabilities in a challenging global environment. Le Monde columnist Stéphane Lauer argues that Europe must complete its integration to address these challenges.

Published on February 6, 2024, at 5:28 am (Paris), updated on February 6, 2024, at 9:30 am Stéphane Lauer

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'Trump's push for tariff barriers fosters economic inefficiency and impoverishment'

If re-elected on November 5, the former president intends to impose a 10% import tariff, a strategy previously unsuccessful in his first term, according to columnist Stéphane Lauer.

Published on January 9, 2024, at 5:02 am (Paris), updated on January 9, 2024, at 7:29 am Stéphane Lauer

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'Javier Milei, Argentina's new president, is the culmination of the country's long decline'

Argentina had everything it needed to remain one of the world's most powerful economies but ended up marginalizing itself through its many mistakes over more than a century. Le Monde columnist Stéphane Lauer explains that the choice of populism is a way of giving the finger to a system that has lost all credibility.

Published on December 13, 2023, at 12:58 am (Paris), updated on December 13, 2023, at 7:18 am Stéphane Lauer

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'Joe Biden's economic record is not a good enough argument for the Democrats to win the next election'

As the incumbent US president prepares to run for a second term, Americans are not convinced that the Biden administration has improved their lives, despite flattering macroeconomic data, Stéphane Lauer writes.

Published on November 13, 2023, at 6:30 pm (Paris) Stéphane Lauer

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'The European space industry needs to get its act together before it's too late'

The space summit that will be held in Seville in early November is a crucial opportunity to revamp the industry's organization from top to bottom and set ambitious and inspiring targets.

Published on October 19, 2023, at 11:01 am (Paris) Stéphane Lauer

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'Peak of fossil fuel demand is in sight, not climate denial'

According to the International Energy Agency, the consumption of oil, natural gas, and coal is set to reach its absolute maximum before 2030. Yet the energy transition is far from complete, writes Stéphane Lauer in his column.

Published on September 29, 2023, at 4:34 pm (Paris) Stéphane Lauer

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'For decades, the American public has accepted the decline of unions. This is no longer the case'

Unprecedented strike action is taking place in the US, from the cinema industry to the car and services sector. The movement is fueled by a sense of disenchantment in the middle classes, in the face of rising inequality, explains Stéphane Lauer.

Published on September 4, 2023, at 11:08 am (Paris) Stéphane Lauer

News analysis Subscribers only

Why France's economy is staying afloat (in spite of everything)

France has been spared nothing: Covid, shortages, soaring energy prices, the war in Ukraine, inflation and social and political crises. Yet the country isn't sinking and continues to create jobs, even if structural weaknesses persist.

Published on June 3, 2023, at 12:09 pm (Paris) Stéphane Lauer

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'Since Covid-19, the crystal ball of economic forecasters has become extremely opaque'

International institutions need to educate people about the gaps between economic forecasts and reality and explain why trajectories have diverged and which neglected parameters should have been taken into account.

Published on May 23, 2023, at 1:01 am (Paris), updated on May 23, 2023, at 7:55 am Stéphane Lauer

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ChatGPT: 'A pause, if there is one, must be used to hold artificial intelligence players accountable'

Hundreds of experts and personalities are warning about the threat that AI is bringing to humanity. This awareness is a curious mixture of lucidity, false naivety and well-understood interests, writes Stéphane Lauer in his column.

Published on April 3, 2023, at 3:02 pm (Paris), updated on April 26, 2023, at 9:57 am Stéphane Lauer

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'Germany is taking a disproportionate risk with e-fuels'

The country's decision not to vote for the European proposal about ending internal combustion engines in 2035 is not a wise choice.

Published on March 20, 2023, at 7:52 pm (Paris), updated on March 20, 2023, at 9:39 pm Stéphane Lauer

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The Renault-Nissan alliance was a utopia that faded away

The two companies have reached an agreement in which the French carmaker relinquishes control over the Japanese company without any real compensation, writes Le Monde columnist Stéphane Lauer.

Published on February 6, 2023, at 6:38 pm (Paris), updated on February 6, 2023, at 6:39 pm Stéphane Lauer

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Twitter: 'Elon Musk poses as a superhero, when he is ultimately just a pyromaniac fireman'

Developing autonomous cars or satellite launchers is ultimately easier than trying to assume the role of a champion of free speech, as the CEO of Tesla and SpaceX wanted to do for the social media platform, argues 'Le Monde' columnist Stéphane Lauer.

Published on December 27, 2022, at 5:00 pm (Paris), updated on April 27, 2023, at 1:52 pm Stéphane Lauer

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Energy crisis: 'France faces blackouts for lack of common sense'

'Le Monde' journalist Stéphane Lauer blames both the government and the opposition for the way they handled the possible planned power cuts that could occur this winter.

Published on December 14, 2022, at 4:33 pm (Paris), updated on December 14, 2022, at 4:34 pm Stéphane Lauer

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'America First' is the default US strategy, rather than a mere Trump-era slogan

Joe Biden's plan to attract the investments needed for decarbonization poses a threat to European industry, in a world where geopolitics is taking precedence over regulated trade.

Published on November 29, 2022, at 10:39 am (Paris), updated on November 29, 2022, at 10:39 am Stéphane Lauer

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'While Europe seeks to distance itself from China, Germany seems in favor of business as usual'

The German chancellor has given the green light to the sale of a terminal in the port of Hamburg to a Chinese company. An embarrassing decision at a time when Xi Jinping's regime is becoming more hardline.

Published on November 1, 2022, at 4:42 pm (Paris), updated on November 1, 2022, at 4:42 pm Stéphane Lauer

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'Behind the financial crisis in the UK looms the shadow of a Brexit that failed to deliver'

In attempting to sweep though policies steeped in liberalism with a dose of populism and a dollop of staunch conservatism in a United Kingdom already weakened, Liz Truss's government is leading the country into a dead end.

Published on October 4, 2022, at 2:27 am (Paris), updated on October 4, 2022, at 8:10 am Stéphane Lauer

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'In France, the debate over nuclear power is somewhere between water cooler talk and ideological battle'

The confusion around the role of nuclear power in France's energy mix is preventing the population from forming a reasonable opinion on a crucial topic.

Published on September 25, 2022, at 10:00 am (Paris), updated on September 27, 2022, at 12:24 pm Stéphane Lauer

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