Stéphane Faure

Opinion: A strong Euro is suffocating European industry

The ECB is clinging to a 2% inflation target at the cost of high interest rates and a strong Euro. However, by relentlessly fighting domestic inflation that is already under control while its economy remains limp, the ECB has allowed the single currency to appreciate against Asian currencies since 2020. The result: a structurally overvalued Euro that precludes any possibility of competitiveness both within and outside of Europe.

June 11, 2026 at 04:05 am

Opinion: The Industrial Accelerator Act - a Paper Shield

With a price gap of up to 40% vis-à-vis China, the Industrial Accelerator Act (IAA) offers protection to, at best, 20% of the European automotive market and just 15% of industry overall. Worse still, even within this already narrow scope, the framework allows production to take place outside Europe. Let's take a closer look at a legislative proposal that, in its current form, misses the mark.

May 04, 2026 at 08:52 am

Op-ed: "The ECB's 2% dogma is dragging our economy down"

The legacy of the 2% inflation dogma inherited from the 1970s is plain to see: high debt, deindustrialization, and weakening purchasing power. Yet the the postwar economic boom shows that another path is possible: one in which the ECB's primary mandate would be growth rather than inflation. It would also offer a way to finance massive investment needs without raising taxes, argues Stéphane Faure, president of the wealth management firm Astyrian Patrimoine.

April 08, 2026 at 09:40 am

Opinion: Defensive competitive devaluation to save Europe

Industrial Europe has hit a wall. The findings of the report recently presented by Clément Beaune on the "Chinese steamroller" are crystal clear: Europe faces a price gap of 30% to 40% against China-at times more in certain sectors. To respond to this competition, policymakers talk about cutting red tape, a European preference (IAA) and massive support for strategic industries. That is essential, but is it enough? No. Believing that optimizing our productivity will close such a gap is an illusion.

March 11, 2026 at 04:46 am

Opinion: "Floor price" for cars, or how to undermine European strategic autonomy

In 2024, the EU introduced additional tariffs (up to 35% on top) on electric vehicles imported from China, on the grounds that these carmakers benefit from subsidies that enable them to sell at very low prices, to the detriment of manufacturers that produce their vehicles in Europe. To widespread surprise, on Monday 12 January, the European Commission raised the possibility of introducing a "price floor" (or "minimum price") clause, which would enable manufacturers producing in China (whether Chinese or not) to offer minimum prices for their vehicles as an alternative to these tariffs.

February 03, 2026 at 04:09 am