Analyse économique des chemins de fer français: D'où venons-nous ? Où en sommes- nous ? Où allons-nous ?

This popular paper deals with the economic situation of the French railways. First, the poor performances observed for many years are described through accounting results and internal failures. This economic situation is explained through the analysis of the public failures: insufficient regulation, lack of risk, capture. Last, the solutions to implement are discussed: liberalisation, state aids control, strike restriction and institution of a regulator lead to resolve those failures.