Speech by Jean-Yves Le Drian at the Rencontres Économiques d'Aix-en-Provence 2016

The Minister for Defence, Jean-Yves Le Drian, will be speaking on Friday 1 July 2016 at the Rencontres Économiques d'Aix-en-Provence 2016, on the theme of economic sovereignty (session 3, from 4.30pm to 6pm). For their 16the The theme of this year's Rencontres Économiques d'Aix-en-Provence is the place of countries in the global economic situation, and more specifically the case of France, around themes that concern all nations: What economic sovereignty? How do we define a country in today's world? How can we promote economic dynamism? What are the challenges linked to territories, populations and the social contract? What future for the European Union? Are GAFA disrupting global geostrategy?

Over the three days, more than 250 academics, business leaders, students, political representatives and institutions from many countries will be taking part in a wide range of debates and sessions.

Session 3 - Does economic sovereignty still exist?

Round table discussion with Jean-Yves Le Drian (Minister of Defence), Isabelle Kocher (Engie), Pascal Lamy (Former Director General of the WTO), Mario Marcel (Central Bank of Chile), Peter Ricketts (Former UK Ambassador to France) and Il Sakong (Institute for Global Economics).

In a globalised economy, economic policies - both budgetary and monetary - are increasingly constrained by international conditions. Crises are systemic, while crisis management is almost exclusively national. What's more, the major channels through which economic policies are transmitted to deal with crises are rendered inoperative by the level of public debt and the historically low level of key interest rates. So can we talk about economic sovereignty if countries are incapable of managing crisis situations? In the face of globalisation, two responses are emerging: protectionist tendencies on the one hand, and regionalisation processes on the other. Regionalisation takes a variety of forms, from customs unions to monetary unions, the most elaborate of which is the European Union. This session will examine the impact of protectionist tendencies and regionalisation on the economic sovereignty of countries.
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