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Blog Post

EU support for SME IPOs should be part of a broader package that unlocks equity finance

The incoming Commission President has put support for SMEs at the centre of her economic programme. A public-private fund investing in initial public offerings should be carefully targeted, primarily at small firms with risky projects. The announced SME strategy and further measures under the Capital Markets Union programme should address numerous other barriers to both public and private equity finance.

By: Alexander Lehmann Topic: Finance & Financial Regulation Date: September 16, 2019
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Opinion

China's dual banking system: consolidation as the final solution for weak small banks

There are fundamental solvency and liquidity issues for some small Chinese banks, widely influencing both the bond market as well as the broader financial sector. Given the difficulties in creating a level playing field between small and large banks, there is an expectation that small banks will continue to under-perform.

By: Alicia García-Herrero and Gary Ng Topic: Finance & Financial Regulation Date: September 16, 2019
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Opinion

Germany’s Divided Soul

Eastern Germans vote, think, and feel differently than western Germans do, as the results of the September 1 regional elections make clear. To help tackle the underlying economic causes of this divide, the federal government should introduce incentives to encourage foreign investment in the east of the country.

By: Dalia Marin Topic: European Macroeconomics & Governance Date: September 13, 2019
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Opinion

The tricky link between the Hong Kong dollar and capital flows

The Hong Kong economy has been hit by a series of shocks, but it should resist taking drastic measures to keep foreign capital in the city.

By: Alicia García-Herrero Topic: Global Economics & Governance Date: September 13, 2019
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Blog Post

Competing Globally: Europe’s Debate Over Trade and Sovereignty

This blog is part of a series following the 2019 Bruegel annual meetings, which brought together nearly 1,000 participants for two days of policy debate and discussion.

By: Jean Pisani-Ferry and Rebecca Christie Topic: Global Economics & Governance Date: September 12, 2019
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Opinion

Economic priorities for new EU leadership

Europe is no longer in crisis mode. However, it remains vulnerable; it is unprepared and it is procrastinating. Following European elections this May, new leaders are about to take their positions at the main European institutions for the next 5 years. They have the power in their hands to take action. But more importantly, they have the power to convene 28 states, which, if united, can play a significant global role. What are the urgent challenges that require collective European action?

By: Maria Demertzis Topic: European Macroeconomics & Governance Date: September 10, 2019
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Blog Post

Argentina, plus ça change…

Recent primary elections in Argentina saw the defeat by a wide margin of President Macri. This fueled market volatility given expectations of a reversal of reforms after national elections in October; the recent re-introduction of capital controls attests to the extent of the economic fallout. With Macri’s end in sight, this post will review the evolution of the Argentinian economy during his term.

By: Marta Domínguez-Jiménez Topic: Global Economics & Governance Date: September 9, 2019
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Blog Post

Truths about Trade: A speech by Cecilia Malmström

Cecilia Malmström, European Commissioner for Trade, talks on the truths of EU trade at the Bruegel Annual Meetings 2019.

By: Cecilia Malmström Topic: Global Economics & Governance Date: September 4, 2019
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Opinion

Dousing the Sovereignty Wildfire

In time, the current spat between French President Emmanuel Macron and his Brazilian counterpart Jair Bolsonaro regarding the Amazon rainforest may become a mere footnote. But other rows between collective and national interests are sure to erupt, and the world needs to find a way to manage them.

By: Jean Pisani-Ferry Topic: European Macroeconomics & Governance Date: September 3, 2019
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Opinion

Retraites : pour la clarté

L’économiste regrette, dans sa chronique au "Monde", que les tensions internes au gouvernement aient conduit à s’écarter de la stricte logique d’un système par points.

By: Jean Pisani-Ferry Topic: European Macroeconomics & Governance Date: September 3, 2019
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Opinion

Why Europe needs a change of mind-set to fend off the risks of recession

Recession! This is the new worry in Europe and the US. A simple look at google trends shows that in Germany, France and the US, search interest for recession peaked in the last weeks. In Italy, the peak already occurred end of January. Whether a recession is actually occurring is difficult to gauge in real time. But there can be no doubt that significant risks such as the trade war and no-deal Brexit exist.

By: Guntram B. Wolff Topic: European Macroeconomics & Governance Date: September 2, 2019
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Blog Post

Border Carbon Tariffs: Giving Up on Trade to Save the Climate?

Ursula von der Leyen plans to introduce a border carbon tax to avoid that cutting EU carbon emissions forces EU companies to move their activities abroad. But will this tax trigger a conflict between climate preservation and the multilateral trading system, or can trade and climate preservation coexist?

By: Henrik Horn and André Sapir Topic: Energy & Climate, European Macroeconomics & Governance Date: August 29, 2019