The demise of the baby boomers could temporarily depress real estate prices.

is changing. We'll have to see if it becomes structural. I'd like to present 'ten trends', but then my wife and I might not survive," jokes Cohen De Leus.

"We believe that with multiglobalization, climate transition, aging populations and debt, inflation will be structurally higher and hover around 3% in a "normal" future. We also believe that productivity will actually increase in the future," he continues. In his view, negative interest rates are a thing of the past and will be for a long time.

But we need to be bold: we have too many "zombie" companies that are a drag on overall productivity. This will lead to a cleanup.

"Debt repayment will become increasingly difficult. We are not heading for disaster, but they will need to be''monitor more rigorously,' he continues, though he defends continued investment in certain areas, both public and private, including energy-efficient repairs and manufacturing tools.

"It needs to be done. It needs to be done by states as well as companies. There will probably be more bankruptcies. But we need to be bold: we have too many "zombie" companies that are a drag on overall productivity. There will be a kind of purge. Because some companies survive only because of the current low interest rates," Cohen De Leus admits, a little cynically.

"Schumpeter (the economist behind the theory of creative destruction - ed.) went to sleep, but he's back. We expect a wave of defaults. So we must''To experience some downturn in the short term, but after that it will be better. However, we need to allocate resources and labor wisely to profitable and future projects,' says Philippe Gijssels.

"The world must seek a new equilibrium, and it will find it. I hope that innovation will help us. We need fewer pessimist predictors, but more experimenters, people who find solutions, for example in energy. We also need to avoid too much welfare decline, otherwise it feeds populism. I have hope for the Millennial generation and Generation Z. But let's see if this innovation will be enough for deflation," explains Cohen De Leus.

"We have to avoid too much of a decline in the wealth of the population, otherwise this''feeds populism,' adds Philippe Gijssels.