Eric Pichet is a graduate of HEC Paris, ESORSEM (French Staff College) and IMPI (postgraduate programme in Wealth Management and Real Estate of Kedge Business School).
He has a Ph.D in Management from the University of the Littoral Opal Coast with a thesis entitled "Convergence between Corporate Governance Practices in the large listed companies".
He is a member of the IFA French Directors Institute's research centre and sits on the boards of several investment companies in France, including Gestion 21 and Signaux Girod (also Chairman of the audit Committee).
Lastly, he belongs to the APM (Association for Progress in Management [fr]), where he also works in an expert's capacity, and is chairman at CORAL, a French think tank of authors, book publishers and editors.
These principles : After analysing the role that failed governance mechanisms played in the Kerviel affair,[3] Pichet detects a need for major improvements in the governance of large financial institutions, based on: More generally, having analysed financial institutions that made huge losses in 2007–2010, he identifies 6 symptoms[4] that are always present under these conditions, which create an explosive cocktail when combined.
Pichet followed this up with a rigorous doctrine in which individual exception provisions are identified using a series of six successive filters analysing their legitimacy, utility, relevance, efficiency, effectiveness and social acceptability.
Drawing lessons from the 2007-2008 financial crisis, in a May 2013 Journal of Governance and Regulation article[17] Pichet suggests a new central banking theory for the world's older industrialised countries.
The article strongly criticises the European Central Bank's May 2010 decision to purchase Greek state debt in large quantities (totalling €40 billion by 2013) at a time when the country was being downgraded.
Lastly, Pichet advocates reshaping central banks' governance systems along three lines: independence (essential, notwithstanding certain actions taken by Japanese and Hungarian governments in 2013); accountability, based on greater strategic transparency; and redrawn boards of directors, not only featuring a better gender balance (an ongoing challenge, as witnessed by arguments about the BCE's 100% male board) but also and above all by co-opting members from a wider range of backgrounds.
[19] An article appearing in the 27 November 2014 issue of the Revue de Droit Fiscal has shown that the 2014 the French structural public deficit will be closer to 4% than the official 2.4%, due to the fact that the nation's growth potential has fallen by 1% per annum since the 2008 crisis broke out.
Although the article contests neither the Haut Conseil des Finances Publiques' independence or competency, it does criticize this body's excessive caution and refusal to analyse the Government's calculations with any degree of seriousness.
The Revue de Droit Fiscal article published in response by Mr. Migaud, in his capacity as Chair of the Haut Conseil des Finances Publiques, states that "Even if the Haut Conseil is not providing quantitative estimates for the output gap and structural deficit - estimates that would, by their very nature, be highly uncertain - it is clear in noting that the output gap that will be much lower than the one calculated by the Government, meaning that the structural deficit will be much higher".
In a second paper published in 2003[21] he announced that the CADES fund and the CRDS tax would be being turned into permanent fixtures in France's budgetary and fiscal landscape.
Moreover together with VAT, created in 1954 and imitated throughout the world, the CRDS is undoubtedly the greatest French innovation in the 20 tt century in terms of compulsory taxation.
The globalised network means there are potentially 7 billion buyers (especially since it can be divided up to eight decimal points), largely explaining the funnel effect materialising, inter alia, in the first bitcoin futures contract that began trading in December 2017."