La mise en œuvre d’un mécanisme multilatéral quasi-juridictionnel de restructuration des dettes souveraines que l’ONU appelle de ses vœux, est illusoire. Néanmoins, des avancées pourraient être réalisés dans différentes voies : amélioration des clauses contractuelles des émissions obligataires ; introduction de nouvelles clauses de reprofilage automatique des dettes ; utilisation des financements internationaux comme levier.

Alors que les importations chinoises de produits laitiers ont explosé ces dernières années, les producteurs français n’ont jusqu’ici guère réussi à en profiter. La fin des quotas laitiers en avril 2015, ayant assoupli les contraintes pesant sur le secteur, ouvre pourtant des perspectives nouvelles.

Three factors hold back low-carbon investment in Europe: the risk/return profile of low-carbon investment projects, regulatory and behavioural features in the financial sector and a more global political economy context. These are key issues to create an investment climate for climate investment.

Financial shocks can originate from ecological imbalances what justifies more careful attention by the financial regulators to this specific risk. A new macroprudential framework is proposed.

A new UN Climate agreement will probably be signed by the end of this year with some incremental progress but even inveterate optimists like myself don’t believe it will be capable of ‘bridging the gap’ between the maximum that 196 governments can agree upon by consensus...

La Réserve Fédérale a encore reporté lors de sa réunion de septembre sa décision de sortie de la politique monétaire de taux zéro pourtant maintes fois annoncée. Mais finalement, la question du comment sortira-t-on de cette politique n'est elle pas plus importante que celle du quand ?

We draw six political economy lessons from the actual dynamics of climate negotiations and their connection to the new macroeconomic normal emerging in the aftermath of the 2008 crisis. A specific proposal follows.

The Bangladesh central bank has a long tradition of favouring socially sustainable financing behavior. It was thus natural to extend its mission to the question of climate change mitigation and adaptation investments, both internally and externally in the global financial system.

Four guide-posts for efficient low-carbon finance are proposed: remove subsidies for high-carbon technologies, improve the cost-effectiveness of low-carbon subsidies, encourage private sector innovation, and maintain transparent public policy tools that support cost-benefit accounting.

As the pace of action looks set to rumble on, countries should seek to make progress on resolving several key issues including the free-rider problem.