Every morning, Nicolas Barré takes stock of a current economic issue.

Renault meets this Monday morning even a very important board of directors. On the menu, nothing less than a project to create the world's largest automobile group?

This bold project involves marrying Renault and Fiat-Chrysler to create a group with strong positions in all major markets, from the United States with Chrysler to Asia with Nissan and Mitsubishi, the Japanese partners of Renault. Together, these manufacturers would produce around 15 million cars a year, compared with around 10 million for groups like Volkswagen or Toyota. Such a project, you imagine, can come up against many obstacles. It is not done. The key point in this kind of business is the terms of the merger.

That is to say, in short, who directs and who controls the capital?

Exactly. So who's leading: it could be Jean-Dominique Senard, Renault's president, with a representative of the Agnelli family as president of the group. Who controls the capital: the Agnelli family, which owns 29% of Fiat-Chrysler, would become the first shareholder of the new group before the French State which owns 15% of Renault. There will be subtle balances to be found to appease the fear, which will immediately arise on the French side, a creeping Renault takeover by Fiat.

And if this project succeeds, what becomes of the alliance between Renault and Nissan which has seriously deteriorated?

Major question: Jean-Dominique Senard, Renault's president, will travel to Tokyo early this week to explain the planned Renault-Fiat-Chrysler merger to Nissan managers who were not in the loop until present. The Renault-Nissan Alliance, you are right to say, has been in the lead since the arrest of Carlos Ghosn, it must be rebuilt on a new basis. Obviously, if Renault meanwhile merges with Fiat-Chrysler, it still changes the balance of power with the Japanese. Still, on each side, we can find a lot of benefits to this enlarged alliance: access to more markets, acceleration in the electric, investments in common. On paper, the project offers great benefits. Then everything is about execution.

READ ALSO - Automotive: Renault and Fiat Chrysler set to announce alliance project

READ ALSO - Carlos Ghosn's lawyers filed a complaint with the UN

Read the article Echoes - Renault and Fiat Chrysler want to merge to create the world's number one auto