Podcast

Will Iran disrupt the global economy?

Last Friday, Qassem Soleimani, head of the Iranian Revolutionary Guards’ QUDS force, was killed by an American airstrike outside Baghdad airport. The Ayatollah was not pleased and Tehran has promised to retaliate. At the time of recording, the world is still waiting to see how Iran might respond. Some of have speculated that they could disrupt the world’s oil markets by closing the Strait of Hormuz, which acts as a vital artery for around a third of the world’s liquefied natural gas and almost a quarter of the world’s oil. Today, oil prices surpassed $70 and if tension escalates the price is bound to grow. How dependent is the global economy on affordable Middle Eastern fossil fuel? This week, Nicholas Barrett is joined by Maria Demertzis and Niclas Poitiers to discuss how the US-Iran hostilities are affecting global economy.

By: Date: January 6, 2020 Topic: Global Economics & Governance

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Podcast

Podcast

The macroeconomic policy response to the COVID-19 crisis

From the European Stability Mechanism (ESM) to "coronabonds", the EU seems to be struggling to find an appropriate mechanism to tackle the economic crisis created by the COVID-19 pandemic. What is really the best option? And how do we ensure that, once the pandemic is over, we return to sustainable debt levels and competitive economies? This week, Giuseppe Porcaro is joined by Lucrezia Reichlin, professor of Economics at the London Business School, Grégory Claeys and Guntram Wolff to discuss the macroeconomic policy response to the COVID-19 crisis.

By: The Sound of Economics Topic: European Macroeconomics & Governance Date: March 31, 2020
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Podcast

Podcast

Banks and loan losses in the pandemic turmoil

The current pandemic is shaking the financial system. How can banks react ? Is a consolidation of the financial system in Europe needed in order to respond to this crisis ? Will our economies suffer from this pandemic as much as they did in 2008 ? This week, Giuseppe Porcaro is joined live by Guntram Wolff and Nicolas Véron to discuss banks and loan losses in the pandemic turmoil.

By: The Sound of Economics Topic: Finance & Financial Regulation Date: March 25, 2020
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Blog Post

COVID-19 and broken Collusion: the oil price collapse is one more warning for Russia

In the midst of the COVID-19 epidemic, the sharp collapse in the oil price has received little attention. Brent fell by 30% on 9 March, the largest fall since the 1991 Gulf War. The Russian ruble followed suit and its tumble highlights Russia’s continued dependence on resource extraction. The episode should be taken as a sign of things to come in a world where Russia’s main customers are going green.

By: Niclas Poitiers and Marta Domínguez-Jiménez Topic: Global Economics & Governance Date: March 19, 2020
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Podcast

Podcast

How can the EU prevent our economies from shutting down?

From flights cancelled and restaurants closed to companies either slowing or stopping their production, COVID-19 is shutting our economies down. How can the EU reboot them? What should be our fiscal and monetary response to the pandemic? Will our economic system ever be the same once everything is over? This week, Guntram Wolff is joined by Jean Pisani-Ferry and Maria Demertzis to discuss the EU's response to the coronavirus.

By: The Sound of Economics Topic: European Macroeconomics & Governance Date: March 18, 2020
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Opinion

Only the coronavirus can convince Trump of the virtues of international cooperation

Given how badly the coronavirus outbreak in the US is affecting Trump’s chances to be reelected, let’s hope he comes to its senses and see the advantages of leading a coordinated effort to save the global economy. For once since he came to power, he may see the positive angle of global cooperation and multilateralism, of course, for his own sake.

By: Alicia García-Herrero Topic: Global Economics & Governance Date: March 13, 2020
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Podcast

Podcast

Where are the women in economics?

The field of economics, like many others, seems to be biased towards men. How are women disadvantaged? Makfire Alija and Katja Knezevic join Nicholas Barrett and Niclas Poitiers to discuss the systematic hurdles.

By: The Sound of Economics Topic: Global Economics & Governance Date: March 9, 2020
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Podcast

Podcast

The European Green Deal rules

When it comes to global carbon emission is a tax the best form of defence? To make the European Green Deal work, the EU is considering a levy on carbon-intensive goods manufactured beyond its borders. But will a carbon border tax spawn a massive bureaucracy and lead to accusations of protectionism? To find out, Nicholas Barrett talked to Georg Zachmann and Ben McWilliams from Bruegel and Gabriel Felbermayr, President of the Kiel Institute for the World Economy.

By: The Sound of Economics Topic: Global Economics & Governance Date: March 9, 2020
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Podcast

Podcast

Coronavirus: the economic prognosis

The coronavirus is going to hit the global economy hard, but how hard? What can policymakers plan for the months ahead? Nicholas Barrett asks Guntram Wolff and Maria Demertzis about economic symptoms and treatments.

By: The Sound of Economics Topic: Global Economics & Governance Date: March 9, 2020
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Podcast

Podcast

Is the EU a superpower?

As China and the US battle for global supremacy, the EU seems to remain in the shadows. But what if the EU had been shaping the world economy all along without anybody noticing? Could its soft power be strong enough to shape regulations all over the world? What impact does such influence have over its own economy? This week, Giuseppe Porcaro and Guntram Wolff are joined live by Ashoka Mody, Professor in International Economic Policy at the Princeton University, and Anu Bradford, author of the book "The Brussels Effect: How the European Union rules the world".

By: The Sound of Economics Topic: European Macroeconomics & Governance Date: March 3, 2020
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Podcast

Podcast

Can the European Green Deal kill the single market?

The European Green Deal is one of the landmarks of Ursula von der Leyen's Commission. But, without an ambitious investment behind it, what could be its potential implications for the EU? Could it go as far as to threaten the EU's single market? This week, Renew Europe's vice-president, MEP Luis Garicano, joins Guntram Wolff and Maria Demertzis to discuss not only the European Green Deal but also the EU Budget and the Banking Union. Disclaimer: this episode was recorded on the 20th of February, before Bruegel hosted the event "The Ressurection of the European Banking Union".

By: The Sound of Economics Topic: Energy & Climate Date: February 25, 2020
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Podcast

Podcast

From Brussels with love? Russia's economic dependence on the EU

Despite the political antagonism, the EU and Russia are not only geographically, but also economically, reliant on each other: European houses are heated using Russian natural gas and Russia is highly dependent on European investment. Therefore, should the EU develop closer political ties with Russia? How much leverage does the EU have when dealing with the Kremlin? This week, Nicholas Barrett is joined by Niclas Poitiers and Marta Domínguez-Jímenez to discuss European foreign direct investment in Russia.

By: The Sound of Economics Topic: Global Economics & Governance Date: February 19, 2020
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Podcast

Podcast

Can hybrid threats disrupt the financial system?

From cashless payments to digital banking, finance has become intangible and global. But, while speed and convenience have made our international transactions easier, have we become more vulnerable? How can the EU respond to the increased risk of hybrid threats? This week, Nicholas Barrett is joined by Jukka Savolainen, Director of Community of Interest “Vulnerabilities and Resilience” at the European Centre of Excellence for Countering Hybrid Threats, and Maria Demertzis, to discuss the risks that hybrid threats pose to the financial system.

By: The Sound of Economics Topic: Finance & Financial Regulation Date: February 17, 2020
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