The Economic Consequences of Mrs May and Mr Trump

This article starts from the unexpected events that happened in 2016; the decision of British voters to exit the EU and the election of Donald Trump mark a dramatic rupture with the large adhesion, in particular in the anglo-saxon world, to an open world economy all over the last 60 years. It is too early to anticipate dramatically negative consequences of these political changes but it is at least urgent to evaluate the new challenges facing future international cooperation on trade, finance and the international monetary system. This requires urgent attention to avoid ill inspired commercial or monetary decisions that could, from provocations to reprisals, degenerate and finally push the world into an economic war of which the past gives a tragic picture. With the 1957 and 1992 Treaties, our generation received a precious heritage of which we are responsible vis à vis our grandchildren. It is, in this context, more necessary than ever to exit the euro-immobilism that is so discouraging for the European nations and adapt the EU and the eurozone to a challenging and dangerous future.