Past Event

Could uncertainty derail the European recovery?

It is a contradictory time for Europe. The economy is recovering but the political climate is uncertain. There is excitement about common projects but also rifts and increasing nationalism and populism.

Date: March 22, 2018, 12:30 pm Topic: European Macroeconomics & Governance

VIDEO & AUDIO RECORDINGS

Zsolt Darvas, Bruegel’s Senior Fellow, opened the event by naming several challenges the EU faces currently among those being Brexit, the uncertainty following the Italian elections, and the still very high unemployment in many European countries.  External shocks, such as the protectionist US trade policy, add to this uncertainty.

Franco Bruni, Vice President of ISPI and contributor to the ISPI Annual Report 2018, provided further details on the uncertainty surrounding the European Union in his presentation. He mentioned several EU specific problems such as the late formation of a German government, disagreements in the Franco-German leadership and uncertain formation of the Italian government. On top of these “home-made” problems, Mr. Bruni outlined global challenges the EU has to deal with. As an overall assessment, Bruni identified a strong economic situation in the EU that is accompanied by a fragile political situation and is wondering whether the European political elites are waiting for the next big crisis to tackle the current problems.

Maria Demertzis, Bruegel’s Deputy Director, identified a lack of trust as the fundamental source of uncertainty. Currently, European countries do not have sufficient trust to each other. On top, trust in the European institutions and projects is declining as well. Ms. Demertzis argues that diverging levels of rule of law in European countries is the source of the declining trust. EU’s promise to new member states of an increasing quality in the rule of law could not be held and therefore the EU should think of implementing a system that monitors the status of rule of law. Regarding the global challenges, the EU should increase the resilience of the Europa economic and political system. That would include aiming for a good Brexit outcome, defending the multilateral system, and introducing an “insurance” system that protects the EU from external (economic) shocks.

Marietje Schaake, Member of the European Parliament, expressed her deep concern about the fast and increasing deteriorating of the transatlantic relations. She pointed out that nobody would have imagined a decline in that pace and that this trend will have profound consequences for Europe. In order to improve trust in Europe’s institutions and to reduce uncertainty, Ms. Schaake proposed that the European institutions should rigorously focus on a set of issues (such as immigration, security, climate) in which the EU can bring added value. On top, she promoted a “rules-based approach” in the field of rule of law in which breaking the rule has to hurt and has consequences. She regards the payment of cohesion funds, conditional of the quality of rule of law, as a radical policy option but which is worth discussing.

 

Event notes by Alexander Roth.

The event offered the occasion to present and discuss the ISPI 2018 Annual Report “Big Powers are back. What about Europe?

event materials

Presentation by Franco Bruni

Schedule

Mar 22, 2018

12:30-13:00

Check-in and lunch

13:00-14:00

Panel discussion

Chair: Zsolt Darvas, Senior Fellow

Franco Bruni, Vice President of ISPI and contributor to the ISPI Annual Report 2018

Maria Demertzis, Deputy Director

Marietje Schaake, Member of the European Parliament

Additional speakers to be confirmed

14:00-14:30

Q&A

14:30

End

Speakers

Franco Bruni

Vice President of ISPI and contributor to the ISPI Annual Report 2018

Maria Demertzis

Deputy Director

Zsolt Darvas

Senior Fellow

Marietje Schaake

Member of the European Parliament

Location & Contact

Bruegel, Rue de la Charité 33, 1210 Brussels

Matilda Sevon

matilda.sevon@bruegel.org

Read article

Parliamentary Testimony

European Parliament

The role of independent expertise in legislative process

Testimony before the European Parliament Committee on the Internal Market and Consumer Protection (IMCO).

By: Zsolt Darvas and J. Scott Marcus Topic: European Macroeconomics & Governance, European Parliament, Testimonies Date: July 18, 2018
Read about event More on this topic

Past Event

Past Event

Should we revisit the patent system for pharmaceutical products?

Analysis of the legal issues with the current IP system for regulated market authorisations for pharmaceutical products, as well as its economic effects.

Speakers: Arno Hartmann, Christian Jervelund, Margaret K. Kyle, Roberto Romandini, Bruno van Pottelsberghe, Amaryllis Verhoeven and Reinhilde Veugelers Topic: Innovation & Competition Policy Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: July 9, 2018
Read article More on this topic More by this author

Opinion

Ubu ou Machiavel?

L'administration Trump veut imposer une approche transactionnelle des relations économiques gouvernée par le rapport de force bilatéral en lieu et place du contrat multilatéral. Un défi d'une ampleur inédite pour l'Europe.

By: Jean Pisani-Ferry Topic: Global Economics & Governance Date: July 6, 2018
Read article More on this topic More by this author

Blog Post

EU income inequality decline: Views from an income shares perspective

Over the past decade, the income share of low earners has increased in the EU while that of top earners has slightly declined. Although the upward convergence of the impoverished central European population is impressive, the southern European poor have faced a major setback while the southern European rich have hardly suffered.

By: Zsolt Darvas Topic: European Macroeconomics & Governance Date: July 5, 2018
Read article More on this topic More by this author

Blog Post

Beyond Nord Stream 2: a look at Russia’s Turk Stream project

Since 2015, Nord Stream 2 has been at the centre of all European discussions concerning the EU-Russia relations. But as endless political discussions in Europe are being held on this pipeline project, the pipes of another similar Russian pipeline project – Turk Stream – are already being laid by Gazprom at the bottom of the Black Sea. This piece looks at these developments, analysing their strategic impacts on Europe.

By: Simone Tagliapietra Topic: Energy & Climate Date: July 4, 2018
Read about event

Upcoming Event

Sep
3-4
08:30

Bruegel Annual Meetings 2018

The 2018 Annual Meetings will be held on 3-4 September and will feature sessions on European and global economic governance, as well as finance, energy and innovation.

Speakers: Maria Åsenius, Richard E. Baldwin, Carl Bildt, Nadia Calviño, Maria Demertzis, Mariya Gabriel, Péter Kaderják, Joanne Kellermann, Jörg Kukies, Emmanuel Lagarrigue, Philippe Lespinard, Montserrat Mir Roca, Dominique Moïsi, Jean Pierre Mustier, Ana Palacio, Jean Pisani-Ferry, Lucrezia Reichlin, Norbert Röttgen, André Sapir, Jean-Claude Trichet, Johan Van Overtveldt, Margrethe Vestager, Reinhilde Veugelers, Thomas Wieser, Guntram B. Wolff and Georg Zachmann Topic: Energy & Climate, European Macroeconomics & Governance, Finance & Financial Regulation, Global Economics & Governance, Innovation & Competition Policy Location: Brussels Comic Strip Museum, Rue des Sables 20, 1000 Brussels
Read article More on this topic More by this author

Opinion

Griechenland braucht einen Neuanfang

This was first published by Die Zeit. Acht Jahre nach Beginn des ersten Hilfsprogramms für Griechenland ist es soweit – Griechenland soll wieder auf eigenen Füßen stehen. Die Eurogruppe soll heute das Ende des dritten Hilfsprogramms beschließen und die Modalitäten für die Zeit danach definieren. Ziel sollte es jetzt sein, einen tragfähigen Ausstieg aus dieser für alle Seiten […]

By: Guntram B. Wolff Topic: European Macroeconomics & Governance Date: July 3, 2018
Read about event More on this topic

Past Event

Past Event

Trade war trinity: analysis of global consequences

Analysis of the long-term impact of the trade war and its three key players: EU, US, and China.

Speakers: Alicia García-Herrero, Ignasi Guardans and Carl B Hamilton Topic: Global Economics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: June 28, 2018
Read about event More on this topic

Past Event

Past Event

Euro tragedy: a drama in nine acts

This event will feature a presentation by Ashoka Mody of his new book, which argues that the Euro is at the root of the problems the European Union faces today.

Speakers: Maria Demertzis, Ashoka Mody and Guntram B. Wolff Topic: European Macroeconomics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: June 27, 2018
Read about event More on this topic

Past Event

Past Event

EU-LAC Economic Forum 2018

The second edition of the EU-LAC Economic Forum, a high level gathering for in-depth research-based exchanges on economic issues between European, Latin American and Caribbean (LAC) policy makers and experts.

Speakers: Angel Badillo, Federico Bonaglia, Maria Demertzis, Sylvie Durán, Guillermo Fernández de Soto, Alicia García-Herrero, Elisa Grafulla, Gonzalo Gutiérrez, Bert Hoffmann, Juan Jung, Emilio Lamo de Espinosa, Carlos Malamud, J. Scott Marcus, Neven Mimica, Fabio Nasarre de Letosa, Detlef Nolte, Anne Sperschneider and Guntram B. Wolff Topic: Global Economics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: June 26, 2018
Read article Download PDF More on this topic More by this author

Working Paper

EU financial services policy since 2007: crisis, responses and prospects

This paper presents a holistic overview and assessment of the European Union (EU)’s financial services policy since the start of its financial crisis in mid-2007. Its emphasis is on public policy initiatives and developments at the European level, including those specific to the euro area.

By: Nicolas Véron Topic: Finance & Financial Regulation Date: June 21, 2018
Read about event More on this topic

Past Event

Past Event

For a stronger and more integrated Europe

This event will feature the presentation of the Economic Survey of the European Union 2018 and Economic Survey of the Euro Area 2018.

Speakers: Angel Gurría, Zsolt Darvas, Pierre Beynet and Aida Caldera-Sanchez Topic: European Macroeconomics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: June 19, 2018
Load more posts