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.
In this episode of ‘The Sound of Economics’, Bruegel director Guntram B. Wolff talks with Lars Hoelgaard, former deputy director general at DG AGRI, regarding the possibilities for reforming the EU’s Common Agricultural Policy and the consequences for the new Multiannual Financial Framework.
Europe needs to have its Italian voice. A stable government is required not only to pursue domestic policies and remain fiscally prudent but also to negotiate on euro-area reform, priorities in the EU budget and intensifying competition in global trade.
There will be a €94 billion Brexit-related hole in the EU budget for 2021-27 if business continues as before and the United Kingdom does not contribute. The authors show that freezing agriculture and cohesion spending in real terms would fill the hole, but new priorities would then need to be funded by an increase in the percent of GNI contribution.
As the US administration imposes new tariffs on steel and aluminium and considers further protectionist measures, we look at bilateral trade flows between the US and the EU28 across different types of products.
The western Balkan economies are already closely integrated with the EU; the EU is their largest trade partner, their largest source of incoming foreign investment and other financial flows, and the main destination for outward migration. Monetary and financial systems in the region are strongly dependent on the euro. Progress in EU accession can further strengthen economic ties between six western Balkan countries and the EU, with benefits for both sides.
Just how exposed is Europe’s automotive sector to a potential escalation in the EU-US trade war?
The recent amendments of the Chinese Constitution have stimulated much attention, focusing on the power consolidation of President Xi. Though the four key amendments do not mention direct economic reforms, indirect impact should be considered even if clear-cut conclusions are difficult to draw.
Why is it so hard to reach the Europe 2020 ‘poverty’ target? What does the poverty indicator actually measure? Why was the Lisbon strategy goal of tackling poverty a failure? Zsolt Darvas analyse the data to show how the Europe 2020 strategy’s poverty indicator essentially measures income inequality, not poverty.
The U.S. administration is considering to impose tariffs on steel (25%) and aluminium (10%), based on a national security argument. We review economists’ views about this major shift in U.S.’ trade policy.
In this podcast our senior fellow, André Sapir discusses with Uri Dadush, non-resident scholar here at Bruegel about President Trump's announcement to apply a 25% tariff on all steel and a 10% tariff on all aluminium imports into the United States.
President Trump and his trade team are set on a path of protectionism and economic nationalism. Trump’s intended measure raises four issues for the EU: the effect on European industry; how to deter Trump’s broader protectionist thrust; how to use the WTO Dispute System in this case; and, how to prepare for the contingency of a post-WTO or truncated-WTO world.