Last Tuesday, COFACE presented its traditional conference on country risk. Mr Julien Marcilly, "Head of Country Risk", summarized, in front of an audience of leaders invited by the CDE, Banque Populaire Côte d'Azur and Gramaglia Insurance companies, the contents of the new edition of the Country Risk Guide. The year 2014 should be marked by a difficult renewal with, in Europe, a kind of laborious crisis, dynamic businesses and household debt reorganized in the United States, and finally, a slower pace of growth in emerging countries.