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The worst-case scenario avoided in the United States and Europe thanks to good weather and the resilience of the job market


ANALYSIS – The error of assessment of the European situation came above all, according to analysts, from the fear of a major energy crisis.

Recession in the United States, recession in Germany, recession in the euro zone… The haunting threat of the Cassandras of the economy that we have been hearing for months after the shock of the war in Ukraine, predicting the worst, supported by the markets, does not did not come true.

Economists had warned of the high degree of uncertainty and volatility in an unprecedented context.

“We have experienced energy crises, inflation, pandemics, geopolitical tensions in the past, but never to this extent all these crises together

, analyzes a leader of a global consulting giant.

No economic model responds correctly to this situation of polycrisis


This justifies the confusion of economists.

For Larry Fink, the boss of BlackRock, the largest private asset manager on the planet, the psychological effect is at play.

“For three years, with the Covid, a more polarized world, war, one word has disappeared: hope

, he regretted at the Davos economic forum.

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Source: lefigaro

All news articles on 2023-02-07

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