Fiscal support and monetary vigilance Olivier Blanchard and Jean Pisani-Ferry consider the economic policy implications of the Russia-Ukraine war for the European Union Is the EU Chips Act the right approach? Niclas Poitiers and Pauline Weil argue that measures to safeguard semiconductor supplies proposed in the European Chips Act could prove to be wrongly focused and could tip over into harmful protectionism EU economic resilience tested The EU has revised growth forecasts down. Maarten Verwey, Laura Bardone and Kristian Orsini say the Russian invasion is exacerbating pre-existing headwinds to economic growth

EU ePub

REPowerEU: will the EU really make it work? Simone Tagliapietra believes acting together, the European Union can optimise its response to the energy crisis in all scenarios, but each country will have to make concessions A new Thessaloniki offer Georgia, Moldova, and Ukraine have aspirations to join the European Union. Marek Dabrowski believes the EU should grant candidate status as part of a long-term stabilisation strategy
Decarbonisation of the energy system Zachmann et al highlight that the current national energy and climate plans (NECPs) of EU countries are insufficient to achieve a cost-efficient pathway to EU wide climate neutrality by 2050 The economic policy consequences of the war Jean Pisani-Ferry says the Ukraine war will have significant impacts on the EU, arising from oil and gas supply shocks, energy independence measures, the inflow of refugees and boosted defence spending
The climate transition and its social dimension Mehtap Akgüç, Kalina Arabadjieva and Béla Galgóczi discuss the employment and distributional aspects of climate change mitigation in the European Union A European climate fund or a green golden rule Zsolt Darvas argues that spending and borrowing via a non-redistributive EU climate fund or under a green golden rule would be treated the same in the EU’s fiscal framework
Opaque and ill-defined Poor governance and transparency creates a risk that competition in the single market will be weakened. Niclas Poitiers and Pauline Weil argue that an overhaul of Europe’s IPCEI subsidy framework is needed The Global Gateway: a real step towards a stronger Europe in the world Disappointment at the lack of fresh cash from EU global connectivity strategy is short-sighted. Simone Tagliapietra says Europe supports global development more than any other country in the world
The ‘gatekeeper’ dilemma The scope of the Digital Markets Act has emerged as one of the most contentious issues in the regulatory discussion. Mario Mariniello and Catarina Martins assess which companies will be caught by the DMA Big tech reset? EU court dismisses Google appeal. Renaud Foucart believes the knock-on effects from this ruling could be enormous as tech giants consider their business models
Strengthening the soul of our union In the face of complex challenges Ursula von der Leyen emphasises the Union’s unity and how Europe can become a more formidable actor on the global stage Why technology shapes European power Ulrike Franke and José Ignacio Torreblanca consider the role of technology in shaping international relations and argue that the EU needs to engage with the geopolitical implications of technology
Public finances in the EU COVID-19 has led to governments borrowing at unprecedented levels. Mehmet Burak Turgut discusses EU government finances as well as relevant policy priorities to ensure healthier public finances in the future Hydrogen development strategies: a global perspective The EU, UK, US, China and Japan all expect hydrogen to play a significant role in the decarbonisation of their economies. Alicia García Herrero, Simone Tagliapietra and Victor Vorsatz appraise their approaches
The EUs carbon border mechanism and the WTO André Sapir argues that to avoid any backlash, the European Union should work with other World Trade Organization members to define basic principles of carbon border adjustment mechanisms Europe’s climate moment of truth Simone Tagliapietra writes that with Fit for 55 Europe is the global first mover in turning a long-term net-zero goal into real-world policies, marking the entry of climate policy into the daily life of all businesses
Workers can unlock the AI revolution Mia Hoffmann and Laura Nurski argue that employers and AI developers should ensure new technologies work for workers by making them trustworthy, easy to use and valuable in day-to-day work The Dutch elections and ‘populism’ Fleur de Beaufort and Patrick van Schie interpret the results of the Dutch elections, and consider the growth in the support for the alternative 'populist' parties Quo vadis, Swiss-European Union relations? Switzerland’s decision to abandon InstA talks with the EU will have widespread consequences. Stefanie Walter says future relations now depend both on the EU’s response and on domestic developments AI in the workplace Laura Nurski says that job quality measures should be included explicitly in health and safety risk assessments for workplace artificial-intelligence systems Pricing of carbon within and at the border of Europe The EU has announced carbon neutrality by 2050 as the key target of the Green Deal. Schmidt et al. argue that the EU should consider a border carbon adjustment mechanism to incentivise other countries to join The Janus’ face of Europe’s new social rulebook The COVID pandemic has had a huge effect on employment prospects in the EU. László Andor and Robin Huguenot-Noël discuss the Social Pillar Action Plan’s long-term targets Vaccine diplomacy: soft power lessons from China and Russia? Michael Leigh discusses the rocky start to the EU’s vaccination rollout that has allowed Moscow and Beijing to score political points in the Balkans and Central and Eastern Europe Is the EU’s investment agreement with China underrated? Uri Dadush and André Sapir argue that the CAI binds China to an international treaty that includes improvements on subsidies, SOEs, technology transfer and transparency 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
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

Brexit ePub

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 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 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 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 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 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 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 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
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