Navigating through hydrogen Ben McWilliams and Georg Zachmann argue that policymakers must address the need to displace carbon-intensive hydrogen with low-carbon hydrogen to meet the 2050 emissions target Much ado about nothing? Fraser Cameron considers the political and economic context of the EU-China investment deal What the British government needs to do to get Brexit done post-COVID Patrick Minford considers the options available to the UK government to ensure a successful Brexit

EU ePub

The end of the beginning Democratic Europe has come under pressure. Benjamin Zeeb considers the lessons that Europe can learn from the American experience to ensure a peaceful completion of the European project Will 2021 in CEECs look better than 2020? Mehmet Burak Turgut is optimistic about CEE growth in 2021 following the successful development of COVID vaccines
Regulating big tech The EU’s proposed Digital Markets Act will attempt to control online gatekeepers by subjecting them to a wider range of upfront constraints. Julia Anderson and Mario Mariniello consider the implications The geopolitics of the European Green Deal Mark Leonard, Jean Pisani-Ferry, Jeremy Shapiro, Simone Tagliapietra and Guntram Wolff consider the geopolitical consequences of the European Green Deal
Why the Google-Fitbit decision is appropriate Pierre Régibeau believes that the discussion should now move from the realm of speculation to the sphere of evidence Working from home is revolutionising the UK labour market Shivani Taneja, Paul Mizen and Nicholas Bloom discuss a recent survey, and it seems certain that many workers will continue to work from home long after the end of the pandemic
What do vaccination passports mean for Europe? Fundamental freedoms should not be limited unnecessarily, say Lionel Jeanrenaud, Mario Mariniello and Guntram Wolff. Nevertheless, vaccination passports have to be considered The double irony of the new UK-EU trade relationship The TCA signed between the EU and the UK goes against UK efforts to avoid being economically disadvantaged. Tracking the evolution of the relationship can help in understanding this, André Sapir argues
The Digital Markets Act: a translation Cristina Caffarra and Fiona Scott Morton argue that the European Commission's proposal is progress, but there are issues that need to be addressed Has the EU squandered its coronavirus vaccination opportunity? The EU’s purchases of frontrunner coronavirus vaccines are insufficient. J Scott Marcus says the shortfall could have healthcare consequences and might delay economic reopening
Digital platforms and antitrust A proper regulatory framework is needed to relieve concerns about online platform competitive practices, argue Geoffrey Parker, Georgios Petropoulos and Marshall Van Alstyne They don’t need to be green The EU needs a liquid market in bonds to fund the recovery programme. Alexander Lehmann argues green bonds would complicate matters
To thrive in the post-COVID world, Europe needs a Plan B Benjamin Zeeb considers the EU's COVID-19 rescue package and argues that government by consensus rather than majority is not the right method in times of crisis Freedom during the COVID-19 crisis Fleur de Beaufort and Patrick van Schie consider the measures taken to combat the pandemic and how state intervention can be reigned back
Building the world we want to live in Ursula von der Leyen presents her vision for a Europe that emerges stronger from the pandemic and leads the way towards a new vitality in a world of fragility New challenges to transfers of personal data Scott Marcus considers the recent CJEU judgement and the impact on data transfers between the European Union and the United States
Deeper recession, wider divergences Maarten Verwey and Björn Döhring consider the Commission’s Summer 2020 interim forecast, and argue that a rapid response at the EU level is needed to minimise hysteresis

Brexit ePub

A recovery plan for Europe Maarten Verwey, Sven Langedijk and Robert Kuenzel provide a brief overview of the economic rationale for collective action and an assessment of the expected impact of the recovery plan proposed by the Commission Europe’s China problem The European Commission’s White Paper addresses investment screening and state aid, protecting the EU from subsidised foreign acquisitions, Marta Domínguez-Jiménez and Niclas Poitiers discuss
An uncompromising budget The EU response to the COVID-19 crisis has so far been weak. Zsolt Darvas considers the Next Generation EU proposal, and feels that an opportunity has been missed to reform the EU budget Europe's moment The coronavirus has shaken Europe and the world to its core. Ursula von der Leyen presents a recovery plan to repair and prepare for the next generation A small step forward Grégory Claeys argues that the EU's SURE plan to safeguard employment is too modest to have a significant impact the COVID-19 crisis Rebooting Europe European governments have adopted stringent measures to slow the spread of COVID-19. Julia Anderson, Simone Tagliapietra, and Guntram Wolff present a framework for a post COVID-19 economic recovery The EU’s financial readjustment Rebecca Christie and Thomas Wieser consider the EU post-Brexit reckoning with financial markets, and argue that time is of the essence to create highly integrated, functional and fair financial and capital markets The path to integration This crisis is our generation’s Schuman moment, says Christine Lagarde. We have been passed the baton of European integration. And we are being asked to act by strengthening Europe Towards a European Reconstruction Fund How should Europe respond to the economic crisis? Luis Garicano argues that the Commission issue consolidated annuities to finance a €1 trillion economic reconstruction package An opportunity for change The European Commission has been asked for a recovery fund proposal. Massimo Motta and Martin Peitz see a unique opportunity to develop a truly European programme that helps restructure the EU economy Racing against COVID-19 A long-term solution to COVID-19 includes vaccine development. Reinhilde Veugelers and Georg Zachmann propose a vaccines strategy for Europe to meet the challenge of future pandemics EU state aid policies in the time of COVID-19 Massimo Motta and Martin Peitz suggest imposing strict conditions on the state aid that is needed to reduce the impact of the COVID-19 pandemic A green recovery Dirk Schoenmaker argues that governments can attach green conditions to aid to mitigate the COVID-19 crisis and accelerate the green economy The ESM can finance the COVID fight now EU member states are debating how to finance the fight against COVID-19. Aitor Erce, Antonio Garcia Pascual and Ramon Marimon argue that using the ESM to provide the funds needed is a workable way forward Big data versus COVID-19 All available resources need to be brought to bear on COVID-19. J Scott Marcus asks to what extent can digital technology help, what risks are there in using big data, and what policies can mitigate any limitations that these risks impose? A European carbon border tax: much pain, little gain Georg Zachman and Ben McWilliams argue that the EC should not make the implementation of a carbon border adjustment mechanism into a must-have element of its climate policy Next steps in connecting Europe and Asia The EU has set out an ambitious connectivity strategy with Asia. Antti Tulonen argues the priority must be to build on the existing partnership with Japan and seek other like-minded countries in Asia Poverty reduction in the European Union Europe 2020 includes a poverty reduction target. Zsolt Darvas argues these efforts should not aim at the wrong target indicator The ambitions reshaping the business environment Christine Lagarde describes how the goals of European autonomy and addressing climate risk will shape the business environment in Europe, reiterating the need to work together Do AI markets create competition policy concerns? AI markets are young and their structure is yet to crystallise. Julia Anderson asks is European competition law ready for what happens next? A trillion reasons to scrutinise the Green Deal Investment Plan The European Commission has revealed its €1 trillion investment plan for the European Green Deal. Grégory Claeys and Simone Tagliapietra argue that more must be done to unleash the ‘green investment wave’ A Green Deal will not work without refocusing productivity Karl Aiginger argues that a welfare-oriented Green Deal needs to focus on resource and energy productivity, not raising labour productivity A new EU level playing field instrument EU competition policy appears to be ill-equipped to deal with the challenges raised by Chinese state capitalism. Thorsten Kaeseberg discusses some of the gaps in the EU’s economic toolbox, and identifies potential goals and design Developing a coherent EU competition policy Mathew Heim asks how can European competition law address market distortions caused by state-owned enterprises? The European Green Deal needs a reformed fiscal framework Europe needs to change behaviour and technologies. Grégory Claeys argues that to do so the EU needs to adapt its fiscal rules to encourage the transition Trans-European Transport Networks and multimodality The lack of a European policy on multi-modal transportation is something that has to be addressed. Andrea La Mattina considers what the situation is at the moment, and what needs to be done How to make the European Green Deal work Ursula von der Leyen has proposed a European Green Deal to make Europe climate neutral by 2050. Grégory Claeys, Simone Tagliapietra and Georg Zachmann consider how this initiative could be made to work A call for Europe Critics of the European idea are gaining ground. Sabine Lautenschläger considers the successes of the European project and says future challenges can only be met by working together Demystifying carbon border adjustment for Europe’s green deal The European Green Deal has many critics. Guntram Wolff says some adjustments to the deal could make domestic manufacturers more carbon efficient and foreign producers more friendly to the environment We share a responsibility to protect our democracy The European Union and its values need to be safeguarded. Omri Preiss outlines the steps needed to engage citizens and build up a culture of civic responsibility An easier consumer journey when buying online Helping consumers to make informed choices benefits consumers, companies and markets. Pedro Oliveira charts how European business organisations have developed a tool to better inform consumers The EU-Mercosur FTA: prospects and risks The deal is worth fighting for, according to Michael Baltensperger and Uri Dadush, and the agreement could be as significant for the globe’s climate as it is for the global economy The EU’s competition and antitrust tightrope Economic sovereignty remains one of Europe’s biggest challenges. Rebecca Christie and Mathew Heim review the Bruegel meeting that addressed the EU’s global challenges locally The EU is in the US trade war crosshairs The incoming European Commission faces a dilemma. Anabel González and Nicolas Véron believe it should further raise its game to forge effective policies toward the US and China Truths about trade Cecilia Malmström says the best that we can do is hold on to our values – what we believe to be good and right – but always be ready to challenge received ideas through rigorous research and understanding Dousing the sovereignty wildfire Rows between collective and national interests are sure to erupt. Jean Pisani-Ferry writes that the world needs to find a way to manage them Border carbon tariffs: giving up on trade to save the climate? Ursula von der Leyen plans to introduce a border carbon tax to avoid forcing EU companies to move their activities abroad. Henrik Horn and André Sapir ask if trade and climate preservation can coexist? Perspectives on the soft power of EU trade policy The EU has to reposition its trade policies. San Bilal and Bernard Hoekman ask whether the EU has been effective in its pursuit of non-trade policy objectives European champions Mathew Heim and Catarina Midoes investigate industrial champions and competition policy and ask whether the EU has hindered the formation of European champions China’s investment in Africa Alicia García-Herrero and Jianwei Xu examine what the data really says, and the implications for Europe Most progressive countries on maternity leave around the world There now is a focus on better gender-balance in the workplace. Instant Offices have examined countries different approaches to maternity leave around the world, and find that Europe has some of the most progressive benefits A stronger legal framework is not enough to foster national compliance Konstantinos Efstathiou and Guntram Wolff recommend that the EU reconsider its approach to policy coordination, particularly with regards to communication How should competition and industrial policies interact? Georgios Petropoulos examines the relationship between competition policy and industrial policy in the EU, and argues that these two policy instruments should be implemented as complements rather than as substitutes Tackling demographic challenges in CESEE Tao Zhang considers the challenges facing the CESEE and focuses on the critical role that new technologies might play The European Union energy transition Simone Tagliapietra, Georg Zachmann, Ottmar Edenhofer, Jean-Michel Glachant, Pedro Linares and Andreas Loeschel believe that the EU could benefit from deep decarbonisation irrespective of what other economies around the world do Redefining Europe’s economic sovereignty Mark Leonard, Jean Pisani-Ferry, Elina Ribakova, Jeremy Shapiro and Guntram Wolff make recommendations on how to adapt the EU and national policy systems to better integrate economic and geopolitical considerations European Parliament election results: the long view Following the latest European elections, Nicolas Véron updates his previous analysis of trends in the share of European Parliament seats among ‘mainstream’ and ‘non-mainstream’ parties The cost of the Brexit vote The latest OECD data suggests that the cost of Brexit has been £350 million a week since the referendum. Benjamin Born, Gernot Müller, Moritz Schularick and Petr Sedláček examine the future consequences Elections must put Europe on a path to a green future 90% of Europeans consider the environment to be a key issue for the quality of their life. Simone Tagliapietra says the time to act is now Upward steps on the income ladder Since their accession to the EU 15 years ago, the incomes of most central Europeans have increased faster than the incomes of longer-standing members. Zsolt Darvas finds the very poorest people have not progressed in some countries Does attaching green issues to trade agreements boost trade liberalisation? Boram Lee analyses MEPs environmental positions and finds that FTAs may have difficulty in being ratified Fostering human capital investment in the EU An EU tax credit to preserve incentives for investment in human capital is needed, Debora Revoltella, Philipp-Bastian Brutscher and Patricia Wruuck advocate Italy joins China’s Belt and Road Initiative Italy is projected to join the BRI, causing discontent within the EU and US. Winnie King discusses the cracks that are being exposed in Europe and the G7 Low funding jeopardises Europe’s innovation missions Semih Akcomak and Bastiaan Overvest consider the European Commission plans for research and innovation spending, and find that the spending is relatively small Dancing with the dragon: can the EU and China rescue the WTO? Comprehensive WTO reform has never been more urgent. Bart Broer argues that the Sino-European relationship could safeguard the world's trading regime No deal is the best deal for Britain Patrick Minford considers the options for the UK as they reach the endgame in their negotiations with the EU, and finds that a No Deal Brexit is a recipe for economic success EU membership has many benefits, but economic growth is not one of them In new research Thomas Barnebeck Andersen and Pieter Vanhuysse looked at whether joining the EU has actually increased economic growth for EU member states. In a nutshell, most probably it has not The Alstom-Siemens merger and the need for European champions The European Commission blocked the merger between Alstom and Siemens. Konstantinos Efstathiou examines the lively debate on the need for European champions A commitment to shared prosperity If the European Union draws on its roots and finds a way forward through shared prosperity, Christine Lagarde believes the next chapter of unity in Europe will begin Retooling Europe’s economy European firms are investing too little compared to global competitors. Debora Revoltella calls for a 'retooling' of the European economy EU budget implications of a no-deal Brexit A no-deal Brexit would mean the UK’s contributions to the EU budget fall to zero. Zsolt Darvas calculates the estimated budget shortfall and how the burden would fall across different member states Brexit: blame it on the banking crisis Nicholas Crafts argues that the austerity policies embarked on in response to the fiscal damage resulting from the banking crisis allowed Leave to win the referendum vote How Europe could yet take the lead in the global EV development race The electrification of vehicles has become a key trend in the automotive sector. Simone Tagliapietra and Reinhilde Veugelers consider how Europe might best attempt to catch and overtake other countries in the development race Testing the resilience of Europe’s inclusive growth model Globalisation is placing the European social model under strain. Jacques Bughin and Christopher Pissarides argue that lack of action could make Europe even more vulnerable Between a rock and a hard place European companies are squeezed between US sanctions and the new EU blocking statute. Matthew Oresman and Henrietta Worthington discuss A new vision for trade The Foundation for European Progressive Studies present a vision that can form the core of a new, forward-looking progressive model for trade and investment On populists, immigration and welfare Niek Kok examines the rise of 'right-wing' populism in Europe, and finds that their policies match those of the social democrats of the mid-twentieth century The role of the European Union in fostering convergence Benoît Cœuré focusses on the CESEE economies to explain how completion of EMU can accelerate convergence and foster cohesion in Europe How far can trade policy go in promoting European values? The EU can and should use trade agreements to promote European values but not at the expense of its economic interests, argues Luisa Santos The EU's pivot to Asia Fraser Cameron considers the unforeseen consequences of global uncertainty, and how the EU has seized the opportunity in deepening EU-Asia relations Why is illiberalism on the rise? Daniel Dăianu considers the limits to markets, liberalism and democracy, and finds that the political elites need to change their thinking for liberalism to continue to be a force for good Improving the efficiency and legitimacy of the EU: a bottom-up approach Silvia Merler, Simone Tagliapietra and Alessio Terzi argue for the principle of “an ever closer union” to be safeguarded by a bottom-up approach to respond to the common needs of the citizens Are economic and political freedoms interrelated? Marek Dabrowski argues that in an era of globalisation authoritarian tendencies can negatively affect economic policy and governance New evidence on the economics of immigration to the UK A report by the Migration Advisory Committee draws on new research on the impact of immigration to the UK. Jonathan Portes presents some of the findings from the report Something Putin and Juncker appear to agree on – the euro The US is switching towards unilateralism. Elina Ribakova says this is forcing partners to question the dollar's global dominance The hour of European sovereignty Jean-Claude Juncker says there can be no respite in the work to build a more united, stronger and more democratic Europe
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