Podcast

Director’s Cut: The Italian government budget proposal for 2019

Guntram Wolff welcomes Bruegel affiliate fellow Silvia Merler to evaluate the Italian government’s planned budget for 2019, in this Director’s Cut of ‘The Sound of Economics’

By: Date: September 28, 2018 Topic: Macroeconomic policy

Six months after its election, Italy’s coalition government reached an agreement on public spending.

The key tenets of its first budget include a spending increase that will drive the budget deficit to 2.4% of GDP, tax cuts, a proposal for a minimum income for the unemployed, as well as cancellation of the plans to increase retirement ages.

Though the new deficit budget fits into the EU’s limit of 3%, Italy’s debt of €2.3 trillion makes for a difficult case to increase spending. The news comes as a blow for the finance minister Giovanni Tria, who pushed for a more fiscally responsible budget, trying to limit budget deficit to 1.6% of GDP. The decision also received disapproval from Brussels, with EU Economics Commissioner Pierre Moscovici criticising Italy for “flouting the rules” and disregarding its large debt.

To discuss the potential consequences, Guntram Wolff welcomes Bruegel affiliate fellow Silvia Merler to this Director’s Cut of ‘The Sound of Economics’.

For further reading, we recommend Guntram Wolff’s opinion piece on how to overcome the hurdles obstructing Italian growth, as well as Silvia Merler’s note comparing the capital flight from Italy in 2018 with similar such scenarios witnessed in 2011 and 2016.

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Podcast

Podcast

COP26: global stocktake and what’s next

What happened and what didn’t happen at COP26?

By: The Sound of Economics Topic: Green economy Date: November 25, 2021
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Parliamentary Testimony

Dutch Parliament

The future of the stability and growth pact

Testimony given to a Tweede Kamer der Staten-Generaal roundtable discussion on the future of the stability and growth pact.

By: Guntram B. Wolff Topic: Dutch Parliament Date: November 24, 2021
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Podcast

Podcast

Technology: a product of unequal power?

The effects of digital technology on work and wages.

By: The Sound of Economics Topic: Digital economy and innovation, Inclusive growth Date: November 24, 2021
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Blog Post

Fiscal arithmetic and risk of sovereign insolvency

The record-high debt levels in advanced economies increase the risk of sovereign insolvency. Governments should start fiscal consolidation soon in an environment of low nominal and real interest rates and post-COVID growth.

By: Marek Dabrowski Topic: Global economy and trade, Macroeconomic policy Date: November 18, 2021
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Podcast

Podcast

Pandemonium

How did Europe respond to the pandemic?

By: The Sound of Economics Topic: European governance Date: November 17, 2021
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Policy Contribution

European governance

Next Generation EU borrowing: a first assessment

The Next Generation EU programme is radically changing the way the EU finances itself and interacts with financial markets. This paper assesses the first design decisions made by the European Commission and the issuances that have taken place so far. It also outlines the potential risks and opportunities linked to this upgrading of the EU borrowing.

By: Rebecca Christie, Grégory Claeys and Pauline Weil Topic: Banking and capital markets, European governance, Macroeconomic policy Date: November 10, 2021
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Podcast

Podcast

Why is China cracking down on big tech?

A look at China’s recent regulatory efforts in the digital space.

By: The Sound of Economics Topic: Global economy and trade Date: November 10, 2021
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Past Event

Past Event

European monetary policy: lessons from the past two decades

This event will feature the presentation of “Monetary Policy in Times of Crisis – A Tale of Two Decades of the European Central Bank."

Speakers: Petra Geraats, Wolfgang Lemke, Francesco Papadia and Massimo Rostagno Topic: Macroeconomic policy Date: November 4, 2021
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Podcast

Podcast

The state of trade: the EU's trade policy

A conversation with Member of the European Parliament Bernd Lange on the European Union’s trade policy.

By: The Sound of Economics Topic: Global economy and trade Date: November 3, 2021
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Past Event

Past Event

Microchips and Europe's strategic autonomy

Per microchips ad strategic autonomy.

Speakers: Piotr Arak, Alicia García-Herrero, Jay Lewis, Stefan Mengel and Niclas Poitiers Topic: Digital economy and innovation, European governance Date: November 2, 2021
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Podcast

Podcast

Can COP26 save the planet?

Italian Minister for Ecological Transition Roberto Cingolani discusses priorities and expectations ahead of the COP26 Summit in Glasgow.

By: The Sound of Economics Topic: Green economy Date: October 28, 2021
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Opinion

European governance

Can EU fiscal rules jump on the green bandwagon?

By and large, setting a new green golden rule would be a useful addition to the existing EU fiscal framework.

By: Guntram B. Wolff Topic: European governance, Green economy, Macroeconomic policy Date: October 22, 2021
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