Paul Goldschmidt joined Goldman Sachs in New York (1962-1969) and was appointed as a Director of Goldman Sachs International in London (1970-1985). After seven years as a financial consultant in London and Monaco (1985-1993), he became Director of the “Financial Operations Service,” part of the Directorate General for Economic and Financial Affairs at the European Commission (1993-2002). In that capacity, he played a key role in the harmonization and reform of European financial markets before and during the advent of the euro. He also served on the Board of Directors of the European Investment Fund (2001-2002). Since his retirement in 2002, he has been writing on European political and financial matters and has actively participated in many international conferences.
 
Contacts
Résidence “Les Eaux Vives” Apt. N° WX2 89
Avenue Jean et Pierre Carsoel 1180
Brussels

+32 (0)2 3736330
 +32 (0)497 54 92 59
pn.goldschmidt@gmail.com
European, Politics

Enough is enough!

The media are full of scholarly, moralistic or “objective” debates aiming to inform public opinion about the drama of the Russian-Ukrainian conflict. In order to give themselves an appearance of credibility, they all too often feel obliged to present the facts, either leaving each individual to make their own judgement, or by presenting contradictory assessments that poorly conceal the subjectivity of those who express them. The emblematic example of this phenomenon is illustrated by the recent report of “Amnesty International” which lists indisputable facts perpetrated in Ukraine, but which unilaterally authorizes itself to qualify them as “violations of international humanitarian law”, a privilege which belongs solely to judicial authorities. Although no one questions the reality of the facts reported, their…

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European, Politics

Solidarity

From an expression expressing brotherhood between human beings, “solidarity” has become the key to the survival of the species! What a magic word! It immediately arouses a warm feeling of belonging, benevolence, good conscience, commitment by encouraging the surpassing of oneself and implies a will to act towards a shared objective that transcends individual interests. A distinction must be made between its idealized form, which belongs more to the philosophical or religious spheres, and its pragmatic form, which concerns its implementation. “Idealized” solidarity is thus interwoven with the confrontation of moral values or legal norms such as “good and evil”, “individual versus collective rights”, or even refers to ethical or religious precepts such as “do not do unto others what…

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European, Politics

A provocation too far!

The use of the Zaporozhe nuclear power plant as an “unassailable” military base is unacceptable: it must be met on safety grounds with demands for the immediate withdrawal of Russian forces from the area. By creating a strategic militarized offensive base in the middle of the 6 nuclear reactors of Europe’s largest power plant, Russia has clearly crossed a new threshold in its manipulation of nuclear deterrence – though turning it on its head – which the international community cannot ignore. This escalation must be confronted immediately and firmly, as any procrastination will only increase the risks of spreading a world war that can legitimately be assumed to have already begun. In admittedly very different circumstances, France’s procrastination in 1936…

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European, Politics

The collapse of the EU is Putin’s primary objective.

Only the rapid integration of the EU can deprive him of a victory! The interpretation of the latest diatribes by Putin (and his acolytes), reaffirming the pursuit of his original war goals with increased intensity, is the subject of heated debate in the media, revolving mainly around Russia’s ability to achieve them. Militarily (excluding the nuclear option), the Russian threat to the Atlantic Alliance seems limited in the short term given Russia’s need to replenish its forces in terms of equipment and personnel after suffering considerable losses on the ground. On the other hand, the possibility for Ukraine to mount a successful offensive seems low; it is totally dependent on the quantity and speed of arms deliveries by NATO countries…

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European, Politics

French Elections – and the winner is : VLADIMIR PUTIN!

Tonight, the champagne must be flowing in the Kremlin where an important victory has been won. The unexpected result of the French elections is a major step forward towards Putin’s goal of de-stabilizing the European Union; it is likely to compensate for the disappointments caused by the military stalemate on the ground in Ukraine and to encourage the government to show patience and resilience in the face of the sanctions imposed by the West. The taste of President Macron’s “humiliation” will, no doubt, be the subject of the usual sarcasms from Russian politicians and media. As for the results: it is necessary to distinguish between the composition of the new National Assembly and the analysis of the vote. Indeed, the…

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European, Politics

Europeans must stop lying to themselves!

Welcoming the rapprochement provoked by Russian aggression should not hide the disagreements between EU Member States and within NATO. Yes, the multiple crises that are unfolding have created an awareness of the geopolitical, economic, financial, ecological, health, energy and social dangers that threaten us. As was the case in the past, such circumstances have been conducive to advances in the process of European integration, which would otherwise have been impossible to achieve. One example is the “Recovery Plan” which, following the economic damage of the pandemic, overcame deep-seated objections to the use of mu-utilized debt; more recently, the war in Ukraine has re-launched the debate on European defense. This being said, it must be recognized that the intensity of the…

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European, Politics

A new role for Europe in the world?

Following in the footsteps of the Jewish people and the Catholic Church, the time has come for Western civilization to assume the role of a “creative minority” in a globalized world. In a lecture given in New York in October 2013, the Chief Rabbi of Great Britain, Jonathan Sacks – already quoted in my last article – gave his perspective on the role of the “Jewish people” as a major contributor to “society” in general, while having taken great care to preserve its own identity throughout history. (https://www.firstthings.com/article/2014/01/on-creative-minorities). He refers to the letter of the prophet Jeremiah to the exiles in Babylon (Jer.29:5-7): “Build houses, and dwell in them; plant gardens, and eat the fruit thereof. Take wives, and beget…

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European, Politics

Should we avoid “provoking” Vladimir Putin?

This debate between politicians, intellectuals, journalists and authorities of all kinds which agitates public opinion, opposes philosophical/moral positions as well as partisan interests, and is most often limited to the enunciation of apparently indisputable objectives, the pursuit of which justifies any means used to achieve them. Thus, as such reasoning goes, the unanimously shared objective of ‘restoring peace’ deserves to be imposed at any cost insofar as it aims at ending the loss of both civilian and military lives, the senseless destruction of property and an unacceptable level of abuses and war crimes. Achieving this objective makes it possible to advocate compromises which, for some, are simply a matter of pragmatism whatever the sacrifices they impose on the parties, while…

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European, Politics

Fear is always of bad council!

Should we wait for a new provocation from Putin to accelerate EU integration? Are the global geopolitical situation in general and the war in Ukraine in particular a source of existential dangers for the future of the planet? The answer is undoubtedly “yes”; however, it is necessary to define these risks and to analyze the means available to confront them. In terms of danger, a nuclear Armageddon is clearly the main risk (but not the most likely) because it entails the possibility of the disappearance of all human life on our planet. This leads to a twofold observation: on the one hand, that the use of nuclear weapons is highly improbable, but on the other hand, that it is practically…

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European, Politics

Ukraine: What are the ‘war aims’?

A confused debate where realities, ideologies and pseudo-psychology are intertwined. The media, both on television and in the press, are struggling to decipher Vladimir Putin’s intentions, to analyze American policy or to formulate a coherent vision of European interests. In most debates – besides pious admonitions aimed at giving oneself a good conscience – the future of Ukraine often seems to be relegated to the status of an adjustment variable! Apart from the factual reporting of the course of events (when this is verifiable) and the enlightening analyses of some professional military and political experts, most of the comments are based on speculation, on the desire to make one’s own opinions coincide with the facts or sometimes even on disinformation….

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