“Let's stop criticizing our banks!”

More than ten years after the subprime mortgage crisis, all the light has not been shed, and yet the idea of ​​the guilt of the banks has taken hold firmly in people's minds. They are even blamed for the double fault, since after playing with fire and triggering the crisis, they allegedly asked for help from the States. This unanimous condemnation, the result of incomplete analyzes, is a heavy component of the bank bashing that has raged since then and unfortunately works against our interests. We are indeed at a critical moment when Europe, faced with the domination of American finance and the dollar, must develop its own financial capacities. The development of a strong pan-European financial sector is therefore essential if we particularly want to foster the emergence of future European gafas. 
If it is vain to hope for the complete disappearance of this bank bashing and, one might say, of the bashing market whose roots plunge both in history and in ignor…

Acceleration of the open sky in Africa: The key to ending the crisis

By 1999, 44 African countries had pledged goodwill in liberalizing air traffic by adopting the Yamoussoukro Agreement. The aim of this liberalization was to open up the skies of the signatory African countries in order to allow the development of the aviation sector and a boost to African economies. Unfortunately, twenty years later, no significant progress has been made in this direction and the signatory countries have not translated the Agreement into action. 

“This lack of initiative has resulted in Africa lagging behind other regions and failing to achieve the desired economic growth. Only 2.1% of global air transport is operated by African countries. In addition, the countries being folded in on themselves, intercontinental air transport is only more complex. With the health crisis, the African aviation sector is of even greater concern than elsewhere, due to its history. The recovery will be all the more important, since several companies are now in great difficulty while the virus got the better of some of them, ”said Oumnia Boutaleb, who specifies that Africa has every interest in investing in its aviation sector since it catalyzes a certain number of economic sectors.

“Although tourism may not be picking up on the usual scale it is known to on the continent. A development of the aviation sector would allow a certain but slow recovery. As some countries have already understood, carriers should not limit themselves to a resumption of passenger flights but convert and develop cargo and freight flights which are just as profitable, especially in the current context, ”she adds. 

In 2018, there were 23 African countries to try again with the adoption of the Single African Air Transport Market (Mutaa). This project, intended to provide better access to air transport to more than 1 billion people on the continent in addition to stimulating trade and fostering regional integration, is still at the starting point. Last May, the project seems to be put back on the table with the announcement of a donation from the African Development Bank (Bad) of an envelope of US $ 7 million, this donation should allow the African Commission civil aviation to trigger the entry into force of the Single African Air Transport Market over a period of 3 years. Thus, the aim is to strengthen the institutional framework, to support the sustainable development of air transport by making it possible to secure activities in the sector and strengthen security and, finally, to monitor and evaluate the project in order to '' ensure its proper functioning. “Realizing the importance of bringing about this opening of African skies comes at an opportune time today. In order to recover from the effects of the crisis, African countries will have to rely on more accelerated development of the African Continental Free Trade Area (ACTA). The latter would allow the economies of the continent to recover from the effects of the crisis and would participate in the revival of African markets. Moreover, as is the case with several African countries, there is a dependence on Western partners. This African Free Trade Area would encourage better regional integration allowing countries to develop intercontinental trade. The African Single Market is one of the pillars of the latter, as it can support the free movement of people and goods and enable significant trade growth, ”said the international relations analyst at Policy Center for the New South.