The President’s moves amid the presidential elections and the crises in Europe. However, Frankfurt has not yet sounded the alarm over the risk of the French fiscal crisis spreading across borders: it is more concerned about energy inflation.

The race for the presidency of the European Central Bank is underway. According to the polls, the favourites are the Spaniard Hernández de Cos, a pragmatic and moderate figure, and the Dutchman Knot, a hawk who has become more inclined towards compromise. But Germany and France are also involved in the contest

First came the letter to the Central Bank’s staff on the day of the Governing Council meeting, followed by the official announcement. The two most likely candidates for the post are the Spanish banker De Cos and the Dutchman Knoot

Guiso (Professor of Economics at the Einaudi Institute for Economics and Finance): “It would be a problem if a slump were to weigh on households’ spending decisions. But if you invest for the long term – for example, whilst saving for retirement – those fluctuations will be recouped.”

Chief Economist Philip Lane warns: “Inflation at 3 per cent for the rest of the year”. And on El Niño and weather events: “In 2027, food inflation will drive the overall index”

Concerns are mounting in Brussels: sluggish growth in the Eurozone, widespread fears of inflation, and clear differences with the Fed. And to get a full picture, we will have to wait until June 2027

The bloc’s economy has lost competitiveness, particularly compared with that of the United States. However, the Commission’s document appears to correctly identify the causes of the malfunction, ranging from misguided regulation to market fragmentation