Club Mines Finance, in association with Ponts Finance and Télécoms Finance, invites you to its next conference on the theme :

"The new global economic balance

with Patrick ARTUS
Economic Advisor, Natixis (Groupe BPCE)

The new global economic equilibrium is characterized by the emergence of numerous scarcities: energy, raw materials, transport, electronic components and labor. An analysis of the causes of these scarcities (distorted demand structure, sanctions against Russia, energy transition, labor market attitudes) shows that they are likely to be long-lasting, and should therefore give rise to sustainable inflation. They come on top of other structural causes of inflation: demographic ageing, relocation, rising wages in emerging countries, corporate concentration.

All the consequences of a return to inflationary economies need to be analyzed: reappearance of cycles linked to monetary policy; constraints on fiscal policy to ensure the sustainability of public debts; inequalities between countries, between sectors of activityserious difficulties for emerging countries with high levels of foreign debt, especially if they are importers of raw materials.

Of particular importance is the question of the incompatibility between rising interest rates and the investments needed for the energy transition.

Patrick Artus
Economic Advisor, Natixis (Groupe BPCE)

Officier dans l'Ordre National de la Légion d'Honneur, a graduate of Ecole Polytechnique, Ecole Nationale de la Statistique et de l'Administration Economique and Institut d'Etudes Politiques de Paris, Patrick ARTUS was Director of Research and Studies at NATIXIS, then Chief Economist and Member of the Executive Committee.Until 2020, Patrick ARTUS was Director of Research at NATIXIS, then Chief Economist and Member of the Executive Committee.

He began his career in 1975 at INSEE, then moved to the Economics Department of the OECD (1980), before becoming Director of Studies at ENSAE and Head of a Research Seminar at Paris Dauphine University (1982).

He has taught at various universities (Ecole Polytechnique, Dauphine, ENSAE, Centre des Hautes Etudes de l'Armement, Ecole Nationale des Ponts et Chaussées, HEC Lausanne...), and is currently Professor of Economics at the Université Paris 1 Panthéon-Sorbonne and at PSE (Paris School of Economics), combining this with research work and involvement in various economic journals and associations.

For many years he was a member of the French Prime Minister's Conseil d'Analyse Economique, and today he is a member of the Boards of TOTAL and IPSOS, and Economic Advisor to Natixis.

One of France's leading specialists in international economics and monetary policy, he has published a number of books, most recently 'Pour en finir avec le déclin' (2022) and 'La dernière chance du capitalisme' (2021) with Marie-Paule Virard.

A cocktail reception will be held at the end of the conference.

PAF :
- 10€ for subscribers
- 20€ for non subscribers and external
- Free for students
+ cocktail option 25€.

Please register as soon as possible, preferably online on theIntermines website or by returning the registration form below with payment.