Guntram B. Wolff
Guntram Wolff is a Senior fellow at Bruegel. He is also a Professor of Economics at the Université libre de Bruxelles (ULB).
From 2022-2024, he was the Director and CEO of the German Council on Foreign Relations (DGAP) and from 2013-22 the director of Bruegel. Over his career, he has contributed to research on European political economy, climate policy, geoeconomics, macroeconomics and foreign affairs. His work was published in academic journals such as Nature, Science, Research Policy, Energy Policy, Climate Policy, Journal of European Public Policy, Journal of Banking and Finance. His co-authored book “The macroeconomics of decarbonization” is published in Cambridge University Press.
An experienced public adviser, he has been testifying twice a year since 2013 to the informal European finance ministers’ and central bank governors’ ECOFIN Council meeting on a large variety of topics. He also regularly testifies to the European Parliament, the Bundestag and speaks to corporate boards. In 2020, Business Insider ranked him one of the 28 most influential “power players” in Europe. From 2012-16, he was a member of the French prime minister’s Conseil d’Analyse Economique. In 2018, then IMF managing director Christine Lagarde appointed him to the external advisory group on surveillance to review the Fund’s priorities. In 2021, he was appointed member and co-director to the G20 High level independent panel on pandemic prevention, preparedness and response under the co-chairs Tharman Shanmugaratnam, Lawrence H. Summers and Ngozi Okonjo-Iweala. From 2013-22, he was an advisor to the Mastercard Centre for Inclusive Growth. He is a member of the Bulgarian Council of Economic Analysis, the European Council on Foreign Affairs and advisory board of Elcano. He is also a fellow at the Kiel Institute for the World Economy.
Guntram joined Bruegel from the European Commission, where he worked on the macroeconomics of the euro area and the reform of euro area governance. Prior to joining the Commission, he worked in the research department at the Bundesbank, which he joined after completing his PhD in economics at the University of Bonn. He also worked as an external adviser to the International Monetary Fund. He is fluent in German, English, and French. His work is regularly published and cited in leading media.
Disclosure of interests
Featured work
Less complacency, more investment: a European defence procurement strategy would be cheaper
It is time for decision-makers to consider bold steps to strengthen European defence
Why does Europe need to shed complacency and invest in armament?
Financing European air defence through European Union debt
In this paper, we propose the creation of an EU funding mechanism to internalise the positive externalities provided by national air-defence systems
Fit for war in decades: sluggish German rearmament versus surging Russian defence production
It will take Germany, and Europe more generally, decades to match current Russian volumes of weapons production
Bruegel Annual Meetings | 4-5 September 2024
This year's Annual Meetings centered around the launch of the Bruegel Memos to the European Union leadership 2024-2029
Memo to the commissioner responsible for defence
What role do imports play in European defence?
The European Union wants to reduce reliance on imported defence equipment, but the reliance seems to be overstated
Strengthening Europe's security and defence industry
Debt financing European air defence
A case can be made for financing European air defence through issuance of EU debt
Ineffective and insufficient? Evaluating and improving the design of sanctions
The workshop will take place in Berlin and will look into the economic and political impact of the sanctions imposed on Russia.
European Union debt will boost air defense
European Union debt to boost European air defence
European Union borrowing could help fund air defence for the continent, while taking pressure off national defence budgets
Dovetailing the National Security Strategy (NSS) with innovative international climate and energy policy - consequences for German development cooperation
Using the financial system to enforce export controls
Russian imports of battlefield goods that are subject to export controls, including from Western producers, have surged since mid-2022
Use the financial system to enforce export controls on Russia
Use the financial system to enforce export controls on Russia
Prohibition of Western tech exports to Russia is not working; rapid measures are needed to tighten up
Roundtable discussion at the House of Representatives of the Netherlands
The European defence industrial strategy: important, but raising many questions
The European defence industrial strategy helps to focus thinking but has significant flaws
How realistic is the proposed European defence industrial strategy?
Defence as Europe's trump card: strategies to safeguard EU against potential American retrenchment
Is Europe taking steps to enhance self-reliance amidst concerns about the potential return of a Trump presidency?
The Macroeconomics of Decarbonisation: Implications and Policies
Bruegel Annual Meetings, 6-7 September 2023
A symphony in progress: shaping a new agenda for Europe
The oil price cap and embargo on Russia work imperfectly, and defects must be fixed
Violations of the G7 price cap on Russian oil are becoming evident, but Western countries still can tighten rules and reduce the cash flows to Russia.
A Green Fiscal Pact for the EU: increasing climate investments while consolidating budgets
Europe’s Green Investment Requirements and the Role of NextGenerationEU
The EU countries’ priorities on climate and environmental spending, as reflected in the allocations of the Recovery and Resilience funds are assessed.
Greeniums in sovereign bond markets
In this paper, we analyse whether green sovereign bonds are systematically priced differently to conventional sovereign bonds in the secondary markets
How Can the European Union Adapt to Climate Change?
Europe must increasingly deal with the harmful impacts of climate change, regardless of its success in reducing emissions.
Bruegel Annual Meetings, 6-7 September 2022
The Annual Meetings are Bruegel's flagship event which gathers high-level speakers to discuss the economic topics that affect Europe and the world.
Scorching summers are becoming the new normal. Can Europe prepare itself?
As global average temperatures continue to rise beyond the current 1.2°C above pre-industrial averages, Europe is likely to warm even faster.
Autonomous, digital and green Europe: a conversation with Margrethe Vestager
At this event Margrethe Vestager touched on strategic autonomy, digital regulation and the implications of the Green Deal on competition.
How can the European Union adapt to climate change?
A stronger adaptation governance framework would benefit adaptation efforts.
War in Ukraine: Ukraine's place in the EU
In the latest installment of the Sound of Economics Live we debated whether Ukraine's accession to the EU should be facilitated.
Through crises towards stability: Reflections on 10 years of the ESM with Klaus Regling
How is the European Stability Mechanism responding to crises, and what will the future of the ESM look like?
Future of Work and Inclusive Growth Annual Conference 2022
First Annual Conference of the Future of Work and Inclusive Growth project
Ukraine needs external financial assistance now
Planning Ukraine’s reconstruction tomorrow is important but meeting its financial needs today is more pressing and requires urgent action.
How can we support and restructure firms hit by the COVID-19 crisis?
What are the vulnerabilities and risks in the enterprise sector and how prepared are countries to handle a large-scale restructuring of businesses?
For Europe, an oil embargo is not the way to go
Even at this late hour, the European Union should consider taking a different path.
The Global Quest for Green Growth: An Economic Policy Perspective
A review on green growth and degrowth arguments.
How to weaken Russian oil and gas strength
Letter published in Science.
A phase out of Russian oil may be less effective than a tariff at reducing Putin’s rents
A punitive tariff on all energy imports from Russia would be a better choice than a gradually phased-in embargo on selected fuels.
A tariff on imports of fossil fuel from Russia
A tariff on imports of Russian fossil fuels would allow Europe to hit Russia's energy sector without great suffering.
Cutting Putin’s energy rent: ‘smart sanctioning’ Russian oil and gas
Infrastructure bottlenecks prevent Russia from selling all the oil it wants to bring to market, even at lower prices.
War in Ukraine: What is the effect on Central and Eastern Europe?
How is the war in Ukraine affecting the countries in the central and eastern parts of Europe, the countries that are closest to the ongoing conflict?
What drives implementation of the European Union’s policy recommendations to its member countries?
Article published in the Journal of Economic Policy Reform.
Cutting Putin’s energy rent: ‘smart sanctioning’ Russian oil and gas
Three ways Europe could limit Russian oil and gas revenues.
The EU without Russian oil and gas
The EU and the West need to acknowledge and accept the fact that European liberal democracy is being defended in Ukraine – a clearer message to Putin
War in Ukraine: How to make Europe independent from Russian fossil fuels?
In this episode of Sound of Economics live we discussed whether REPowerEU can enable Europe to have affordable and secure energy supplies.
Macroeconomic and financial stability in changing times: conversation with Andrew Bailey
Guntram Wolff was joined in conversation by Andrew Bailey, Governor of the Bank of England.
Decarbonising Germany: conversation with Patrick Graichen
A special off-the-record conversation with Patrick Graichen.
War in Ukraine: reflections on the economic consequences for Russia
Sergei Guriev joined us to discuss how the Russian invasion of Ukraine will affect the economies of Russia and the world.
How Europe can defeat Russia’s divide and rule strategy in the long term
The European Union will have to bolster members most vulnerable to Russian blackmail and rethink the structure of European energy markets in order to
War in Ukraine: A conversation with Oleg Ustenko
Oleg Ustenko, Economic Advisor to Ukrainian President Volodymyr Zelenskyy, joined us to discuss the situation in Ukraine.
How to reconcile increased green public investment needs with fiscal consolidation
The EU’s ambitious emissions reduction targets will require a major increase in green investments. This column considers options for increasing public
War in Ukraine: Macroeconomic implications for the EU
A special episode of the Sound of Economics Live where we analysed the macroeconomic implications of the war in Ukraine.
The Kremlin’s gas wars
How Europe can protect itself from Russian blackmail.
Greening Europe’s post-Covid-19 recovery
At this event Bruegel launched a new Blueprint that collects voices of policymakers and academics on the crucial topic of how to make sure Europe will
Greening Europe’s post-COVID-19 recovery
This Blueprint includes some of the Group’s most prominent voices on the different aspects of the multidimensional issue of green recovery.
EU-India relations in a post-COVID world
Closed door event for a selection of experts on India and the EU to discuss the state and future of EU-India relations.
The risks for Russia and Europe: how new sanctions could hit economic ties
To play a deterrent role against Russian military action, sanctions would have to be very broad, have a rapid effect and be as coordinated as possible
Corporate investment during the COVID-19 crisis
How did corporate investment fare during the pandemic? Is government support sufficient for firms, both in the short term and in the long term?
The effect of COVID certificates on vaccine uptake, public health, and the economy
An analysis of the incentive effects of COVID certificates on vaccine uptake, health outcomes and the economy.
Europe must come together to confront Omicron
Statement published in the renowned British Medical Journal (BMJ) to address the wave of the Omicron variant of SARS-CoV-2.
Global Gateway vs. Belt and Road Initiative
How does the EU's Global Gateway plan compare to China's Belt and Road initiative?
Inside the European crises: a conversation with Marco Buti
At this event Marco Buti discusses his new book, in which he gives an insiders look at European policy making.
China’s medium term outlook: Will innovation save China from becoming old before it becomes rich?
What can China do to stop the deceleration of its economy. Is innovation the solution?
Role of innovation in decarbonisation
A fireside conversation with Eni CEO Claudio Descalzi on decarbonisation.
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.
Instruments of a strategic foreign economic policy
Study for the German Federal Foreign Office produced by Bruegel, the Kiel Institute for the World Economy and DIW Berlin.
Elimination versus mitigation of SARS-CoV-2 in the presence of effective vaccines
Article published in Lancet Global Heath on strategies to end the COVID-19 pandemic in the presence of effective vaccines.
Can climate change be tackled without ditching economic growth?
What will be necessary to achieve climate goals and keep growing?
Can COP26 save the planet?
In this episode of the Sound of Economics Live, Italy's Minister for Ecological Transition Roberto Cingolani outlines his priorities for the upcoming
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.
Germany’s post-pandemic current account surplus
The pandemic has increased the net lending position of the German corporate sector. By incentivising private investment, policymakers could trigger a
Monetary policy in the time of climate change
How does climate change influence monetary policy in the eurozone? What potential monetary policy measures should be taken up to address climate risks
What is the link between biodiversity loss and financial instability?
Biodiversity loss impacts financial stability. How big is the risk of biodiversity loss for financial institutions?
Can climate change be tackled without ditching economic growth?
The ultimate answer to the question on whether climate change can be tackled without ditching economic growth depends on our willingness to step up cl
German elections: seizing the moral and economic opportunity of global health security
The new German government should play its part in global health security and preparedness.
Germany’s foreign economic policy: four essential steps
Germany and the EU need to develop a strong and proactive agenda to manage foreign economic relations, which are essential for German and European pro
Can climate change be tackled without ditching economic growth?
The notion of degrowth to reduce greenhouse gas emissions appears unrealistic; decoupling of emissions from growth is in principle possible but requir
A green fiscal pact: climate investment in times of budget consolidation
A fiscal exit strategy must be put in place when the EU is pursuing the major goal of cutting its emissions
Conditions are ideal for a new climate club
The technical and political conditions are ideal for the creation of a climate club to catalyse tougher climate action worldwide.
Academic lecture: International technology competition
Bruegel Annual Meetings, Day 3 - On the final day of the Annual Meetings, our Director Guntram Wolf sits with Keyu Jin to discuss international compet
The role of the EU's trade strategy for an inclusive and sustainable recovery
Bruegel Annual Meetings, Day 3 - We are delighted to welcome Valdis Dombrovskis, Executive Vice President of the European Commission for An Economy th
Towards a new global trade regime: reform of the WTO
Bruegel Annual Meetings, Day 2 - the World Trade Organisation has been going through trying times, a phenomenon amplified by the pandemic. Why are we
The EU recovery fund - state of play and outlook
Bruegel Annual Meetings, Day 1- In The Sound of Economics Live session we will discuss the EU recovery fund, its state of play and outlook.
Resolving today’s global health crisis, and avoiding future pandemics
Bruegel Annual Meetings, Day 1- How do we exit the COVID-19 pandemic and ensure the world of tomorrow is less vulnerable to future pandemics?
Bruegel Annual Meetings, 1-3 September 2021
The 2021 Annual Meetings gathered high-level speakers and participants to discuss how to recover from the crises brought on by the Covid pandemic
How much investment do we need to reach net zero?
The size and scope of investments needed to reach net zero will have significant macroeconomic implications.
Increasing the global supply of essential medical supplies: Time for Europe to step up its global leadership
Europe has already made a significant financial contribution to beating the pandemic, now it has the opportunity and moral responsibility to do more.
A Global Deal for Our Pandemic Age
Report of the G20 High Level Independent Panel on Financing the Global Commons for Pandemic Preparedness and Response.
Investment firepower for the recovery: a conversation with Philippe Donnet, CEO of Assicurazioni Generali
At this event the CEO of Assicurazioni Generali, Philippe Donnet was in conversation with Guntram Wolff, Director of Bruegel.
Strengthening the weak links: future of supply chains
What new supply chains trends will we see in the post-pandemic era?
Conference on the Future of Europe: Vehicle for reform versus forum for reflection?
At this policy dialogue panellists discussed different options and what they may entail while revisiting the debates on the future of Europe so far.
The Conference on the Future of Europe: vehicle for reform versus forum for reflection?
The approach of the European Union’s institutions to the Conference on the Future of Europe is muddled, with risks for the outcome.
Relaunching transatlantic cooperation with a carbon border adjustment mechanism
The best way for the EU and the US to jointly introduce carbon border adjustment would be to form a ‘climate club’.
Inflation!? Germany, the euro area and the European Central Bank
There is concern in Germany about rising prices, but expectations and wage data show no sign of excess pressures; German inflation should exceed 2% to
Digital European Economic Sovereignty? The Case of Semiconductors
Study prepared for the European Parliament's Committee on Foreign Affairs (AFET).
The great COVID-19 divergence: managing a sustainable and equitable recovery in the European Union
Policymakers must act to prevent lasting divergence within the EU and to prevent scarring from the fallout from the pandemic.
Divergent Recoveries from the Pandemic: Conversation with IMF Chief Economist Gita Gopinath and Bruegel Director Guntram Wolff
In this episode of The Sound of Economics Live, IMF’s Gita Gopinath and Bruegel’s Guntram Wolff debated the uneven recovery from the pandemic.
Reducing mobility of SARS-CoV-2 variants to safeguard containment
Stopping a new variant from entering from abroad, would facilitate containment and limit the human, social and economic costs.
Form a climate club: United States, European Union and China
Can the three biggest economies agree a carbon tax on imports to catalyse climate action globally?
Form a climate club: United States, European Union and China
If the three biggest economies agree a carbon tax on imports, it will catalyse climate action globally.
Declining competition: a transatlantic challenge
Join us for a discussion of transatlantic competition with Kristalina Georgieva, Margrethe Vestager and Amy Klobuchar among others.
The EU can’t separate climate policy from foreign policy
How to make the European Green Deal succeed.
The EU’s fiscal stance, its recovery fund, and how they relate to the fiscal rules
Joint EU borrowing to boost the recovery, if not treated as national deficit and debt, will substantially ease rules-based fiscal adjustment needs in
The economics of biodiversity
Join us in conversation with Sir Partha Dasgupta and Frans Timmermans to mark the publication of The Economics of Biodiversity: The Dasgupta Review.
Aiming for zero COVID-19: Europe needs to take action
Aiming for 'green zones' offers a clear path to navigate an exit from the pandemic with as little damage as possible. Europe should not miss the oppor
The role of transition finance: a conversation with EBRD President Odile Renaud-Basso
Join us in conversation with EBRD President Odile Renaud-Basso.
Towards a European industrial renaissance?
An open-minded debate on the future of industry in Europe, hearing the perspective of European business leaders.
Disruption or transformation: the impact of a digital euro on the financial system
How would a digital Euro impact the financial system?
The EU can’t separate climate policy from foreign policy
How to make the European Green Deal succeed.
The geopolitics of the Green Deal
Join us to mark the launch of the eponymous paper co-written with the European Council on Foreign Relations.
The geopolitics of the European Green Deal
The Green Deal will redefine Europe’s global policy priorities; as such, it is a foreign policy development with profound geopolitical consequences
Why has the EU been so slow to roll out a Covid vaccination programme?
Europe was not prepared for the pandemic, but it must now learn lessons and use all its financial and political resources.
Conversation with President Jin Liqun (AIIB) on key Infrastructure trends that could shape the recovery
What will happen to infrastructure financing in a post-COVID world?
What do vaccination passports mean for Europe?
To the extent that vaccination against COVID-19 stops individuals infecting others, restrictions on vaccinated individuals’ rights should be lifted: f
Corporate insolvencies during COVID-19: keeping calm before the storm
Measures in major economies have protected companies from COVID-19 related insolvency, but have also protected weak firms. Nevertheless, support shoul
Europe and India: Comparing Approaches to Global Economic Challenges
Stakeholders from government, private sector, media and academia/institutions come together to review India-EU relations.
What will the EU's new migration policy do differently?
What does the EU's new migration policy look like and is it likely to succeed?
Towards post-pandemic green multilateralism?
How could we achieve a trilateral relationship between China, the EU and the US and consolidate it with climate goals?
Europe should promote a Climate Club after the US elections
Time has come for Europe, the US and possibly China to create a global “Climate Club”.
What's the hype all about: the future of social media
What is the future of social media? Conversation with Nick Clegg and Sinan Aral.
The state strikes back
COVID-19 has caused a resurgence of the role of the state. What role should state owned firms and banks play and how can their management be improved?
The scarring effect of COVID-19: youth unemployment in Europe
Even before the pandemic, youth unemployment in the European Union was three times higher than among the over-55s. COVID-19 threatens to undo the last
How to keep a competitive environment while engaging with non market economies?
How can we ensure fair competition between European firms and Chinese state-backed players?
COVID-19 could leave another generation of young people on the scrapheap
It is time that the highest political level focuses on the risk of a lost generation.
The future of EU-US trade relations after the US election
What shape will the trade relationship between the EU and the US take in the coming years?
Next Generation EU debt: how is it structured?
At this invitation-only event we welcomed Gert-Jan Koopman to discuss the impact of EU debt on the EU market of safe assets.
The Sound of Economics Live: The future of EU-UK relations (again!)
At the eleventh hour of negotiations, what will the future of the EU-UK relationship look like?
For the euro there is no shortcut to becoming a dominant currency
As an international currency, the euro has always been a distant second to the dollar. The idea of a greater international role for the euro has been
What should Europe expect from American trade policy after the election?
A Joe Biden Administration would have to decide to what extent to unpick the major United States trade policy shifts of the last four years. A quick r
L'IA a besoin d'humains qualifiés
L'adoption des technologies IA repose moins sur des scientifiques de haut niveau que sur des spécialistes des données et des programmeurs compétents q
Strengthening the international role of the euro
Testimony before the European Parliament on the International Role of the Euro.
From playing field to player: Europe’s strategic autonomy as our generation’s goal
At this online event Charles Michel spoke about the importance of Europe's strategic autonomy.
The Sound of Economics Live: The State of the Union going forward
In the first Sound of Economics Live episode after summer we look at the State of the Union address delivered by Ursula von der Leyen.
Without good governance, the EU borrowing mechanism to boost the recovery could fail
The European Union recovery fund could greatly increase the stability of the bloc and its monetary union. But the fund needs clearer objectives, susta
Employment and COVID-19
Testimony before the Economic Affairs Committee at the House of Lords, British Parliament on Employment and COVID-19.
Bruegel Annual Meetings 2020 - Day 3
Third day of Bruegel Annual Meetings.
Bruegel Annual Meetings 2020 - Day 2
Second day of Bruegel Annual Meetings.
Bruegel Annual Meetings 2020 - Day 1
The Annual Meetings are Bruegel's flagship event which gathers high-level speakers to discuss the economic topics that affect Europe and the world.
Bruegel Annual Meetings 1-3 September, 2020
Bruegel's flagship event transformed into a virtual conference for pandemic times
Europe has an artificial-intelligence skills shortage
How severe is Europe’s dearth of AI talent and how does it compare to the United States, China and the United Kingdom – the world’s AI champions?
China Has an Unfair Advantage in the EU Market. What Can Be Done to Level the Playing Field?
The Euro area after COVID-19 - a conversation with Mario Centeno
At this event we will welcome Mario Centeno to talk about his time as President of the Eurogroup and reflect on the future of the Euro area.
The need for market-based finance after COVID-19
How do COVID-19-caused financial dislocations inform policy responses?
Redefining Europe's role after the COVID-19 pandemic
Amidst COVID-19: how to keep markets integrated when states play a bigger role in the EU and its neighbourhood?
EU priorities and the recovery during Covid19
Testimony at the Committee on EU Policies of the Italian Chamber of Deputies.
The role of the IMF in the post-COVID-19 fiscal stabilization and recovery.
Fireside chat with Kristalina Georgieva, Managing Director, International Monetary Fund
Reopening: Brussels
As European borders reopen, we conducted a “temperature reading” of diverse actors about the local impact of the Covid-19 response.
Is the COVID-19 crisis an opportunity to boost the euro as a global currency?
The euro never challenged the US dollar, and its international status declined with the euro crisis. Faced with a US administration willing to use its
EU-China trade and investment relations in challenging times
In this report, we have focused on trade and investment relations and have not attempted to define the many other policy instruments that the EU can a
The Independence of the Central Bank at Risk
The ruling of the German Federal Constitutional Court (GFCC) of May 5 on the ECB’s monetary policy affects not only the relation of Germany to the Eur
(Em)powering the recovery
What role will the energy sector play in the post crisis recovery and will this recovery be a green one?
An equity fund for a zombie-free and EU-wide recovery
Four guiding principles can help ensure a well designed EU equity fund.
The Sound of Economics Live: Singapore's experience in dealing with COVID-19
A conversation with Dr. Vivian Balakrishnan, Minister for Foreign Affairs of Singapore, on how this city-state has tackled the coronavirus.
The Sound of Economics Live: Rebooting Europe - a framework for post COVID-19 economic recovery
Mapping out the post COVID-19 recovery.
Rebooting Europe: a framework for a post COVID-19 economic recovery
COVID-19 has triggered a severe recession and policymakers in European Union countries are providing generous, largely indiscriminate, support to comp
Navigieren auf Sicht ist für einen grünen Wiederaufschwung nicht genug
Tackling the rise of cybercrime amid COVID-19 with Ylva Johansson
How can the European Union fight the cybercriminals that are exploiting the coronavirus crisis?
The Sound of Economics Live: An analysis of the German Constitutional Court ruling on the ECB QE programme
What does today's ruling of the German Constitutional Court mean for the ECB's Quantitative Easing programmme
The Sound of Economics Live: The impact of Covid-19 on emerging markets with Barry Eichengreen
At this online podcast recording, Guntram Wolff and Barry Eichengreen will discuss the impact of the COVID-19 crisis on emerging economies and the cor
The Sound of Economics Live: Post-Council commentary
Can the European leaders meeting at the Council come together for a comprehensive recovery package?
EU debt as insurance against catastrophic events in the euro area: the key questions and some answers
European Union debt can provide comprehensive insurance against the COVID-19 pandemic and can enable a macroeconomic response, even though EU debt is
The Sound of Economics Live: Can the Eurogroup save the day?
In this episode of The Sound of Economics, we analyse the Eurogroup's 'rescue plan' amidst the economic fallout brought about by the COVID-19 health c
Disease, like poverty, does not stay at home
To fight the Covid-19 pandemic, best practice responses in Africa need to be implemented around international collaboration. These include the need to
A European response to the coronavirus crisis with Paolo Gentiloni
This is the second event in our series with the Financial Times, where Paolo Gentiloni will discuss the European response to the coronavirus crisis.
A European approach to fund the coronavirus cost is in the interest of all
We had not seen a common challenge as clear as this pandemic. The sum of national actions and programs is likely to be insufficient.
CANCELLED: How adequate is the European toolbox to deal with financial stability risks in a low rate environment?
Bruegel is delighted to welcome the governor of the Central Bank of Ireland, Gabriel Makhlouf. He will deliver a keynote address about how adequate th
Europe needs a Covid-19 Recovery Programme
Policymakers need to think long-term and start planning a broad investment scheme to reboot the European economy.
COVID-19 Fiscal response: What are the options for the EU Council?
It is time for the EU Council to make quick progress on the fiscal front and announce something as soon as possible to show that it taken full measure
How has the macroeconomic imbalances procedure worked in practice to improve the resilience of the euro area?
This paper shows how the Macroeconomic Imbalances Procedure (MIP) could be streamlined and its underlying conceptual framework clarified.
Be bold now: coronavirus, the Eurogroup and fiscal safety nets
This blog post sketches two scenarios: one in which countries provide a large fiscal safety net to companies and another in which they do not. Both le
A letter to Santa, the G7
The G7 should set an example of international cooperation and come out with a strong signal of unity and support for the euro-area. Only then will the
An effective economic response to the Coronavirus in Europe
'Whatever it takes' needs to be the motto to preserve lives and reduce the impact on the economy of the epidemic.
Global competition and digital change: How should we update European competition policy?
The event addressed the need for modernising European competition policy due to structural changes in the economy caused by shifting global economic l
The Sound of Economics Live - The Brussels effect: How the European Union rules the world
This was a live recording of an episode of the Sound of Economics, Bruegel's podcast series. The discussion centered around the book of Anu Bradford,
As the Coronavirus spreads, can the EU afford to close its borders?
In 2018, 320 million trips were made between EU countries and almost 2 million people crossed Schengen borders to go to work. Stopping them would cau
The resurrection of the European Banking Union
At this event, Luis Garicano, member of the European Parliament, presented his two proposals to resurrect the European Banking Union: "a Safe Portfoli
Europe may be the world’s AI referee, but referees don’t win
The EU needs to invest in homegrown technology.
What next for the financial services industry? A conversation with Philippe Donnet, Group CEO of Generali
At this event the Group CEO of Generali, Philippe Donnet, will discuss the latest developments in the financial services industry with Guntram Wolff,
The future of taxation in the EU: tax solidarity
Tadeusz Kościński, the Minister of Finance of Poland, talked about taxation policy in the EU.
Recent euro-area house price increases are dissimilar to earlier housing booms
Current housing markets relative to those pre-crisis seem to be far less driven by mortgage credit, and the size of the construction sector has not in
Hybrid threats in the financial system
This one-day workshop focused on hybrid threats in the context of the financial system by examining vulnerabilities and raising awareness, looking for
From climate change to cyber attacks: Incipient financial-stability risks for the euro area
The European Central Bank’s November 2019 Financial Stability Review highlighted the risks to growth in an environment of global uncertainty. On the w
Megatrends: Key Forces Forging Our Future
A vision for Europe to prosper and best serve its citizens
Europe’s banking union must be cyberproofed
The EU urgently needs to conduct joint preparedness exercises and create uniform information and disclosure requirements that help build a true pan-Eu
A post-Brexit agreement for research and innovation
What is the future of EU's and UK's relationship on research and innovation?
The European AI policy: writing the first lines of the code
At this closed-door event, an open discussion with Margrethe Vestager will contribute to her work on artificial intelligence. The aim of these discuss
Partnering with Europe on responsible AI: a conversation with Sundar Pichai, CEO Google and Alphabet
At this event, Google's and Alphabet's CEO Sundar Pichai will elaborate on his views on Artificial Intelligence.
Weaponized interdependence: How global economic networks shape state coercion
This event will discuss how states use global economic networks as weapons in geopolitical conflicts
Recovery and Resolution Planning for Europe’s cross-border banks
This workshop will discuss recovery and resolution plans in the CEE countries
EU-Asia trade and investment connectivity
The Asia Europe Economic Forum (AEEF) was established in 2006 as a high level forum for in-depth research-based exchanges on global issues between Asi
Why border carbon adjustment is important for Europe’s green deal
The European Commission President-elect Ursula von der Leyen is pursuing ambitious environmental targets, notably to reach zero net emissions across t
Better governance, better economies
This event will feature the presentation of the 2019 EBRD Transition report, which focuses on governance in the EBRD regions.
A European approach to Artificial Intelligence?
Closed-door brainstorming event to discuss the European Commission's AI strategy
The role of China in global value chains
This event looked at how the rise of China is affecting global value chains.
Politics, not policy will help Lagarde save the eurozone
Her success at helm of Europe’s central bank will depend on her ability to mend fences with hawkish policymakers.
Demystifying carbon border adjustment for Europe’s green deal
From carbon leakage to “green protectionism”, the European Green Deal envisioned by the incoming Commission has many critics. But some adjustments to
Bank resolution: consistency and predictability
Closed-door workshop on various aspects of bank resolution.
Competition policy in the era of AI – the case of Japan and Europe
How can artificial intelligence have a positive impact on the economy? How does AI impact competition policy? How can the EU and Japan become leaders
A fresh perspective on EU-Turkey relations: still a possibility?
Examining the mutual benefits of a EU-Turkey customs union.
Hybrid and cybersecurity threats and the European Union’s financial system
The authors document the rise in hybrid threats and cyber attacks in the European Union. Exploring preparations to increase the resilience of the fina
Bruegel Annual Meetings 2019, 4-5 September
The 2019 Annual Meetings featured the launch of Bruegel's memos to the new European Leadership, proposing how to deal with future policy challenges
Bruegel Annual Meetings 2019
Bruegel's 2019 Annual Meetings will be held on 4-5 September and feature the launch of Bruegel's Memos to the New European Commission.
Braver, greener, fairer: Memos to the EU leadership 2019-2024
This collected volume, edited by Maria Demertzis and Guntram Wolff, focuses on the most important economic questions at EU level
Braver, greener, fairer: Memos to the EU leadership 2019-2024
A strategic to-do list based on an assessment of the state of affairs and the challenges that will greet the new Commissioners.
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 re
EU policy recommendations: A stronger legal framework is not enough to foster national compliance
In 2011, the EU introduced stricter rules to monitor the implementation of country-specific policy recommendations. Using a new dataset, this column i
The EU needs a bold climate strategy
Scientists report that global temperature increases must be limited to below 1.5 degrees Celsius. With global greenhouse gas emissions continuing to i
The 4th industrial revolution: opportunities and challenges for Europe and China
What is the current status of EU-China relations concerning innovation, and what might their future look like?
AI, robots and platform workers: What future for European welfare states?
At this event, we launch the study, "Digitalisation and European welfare states", authored by Georgios Petropoulos, J. Scott Marcus, Nicolas Moës, and
Eurozone agreement: a mini revolution?
What does the new Eurozone budget do, and what does it not do? What are its strengths and weaknesses?
The threats to the European Union’s economic sovereignty
Memo to the High Representative of the Union for Foreign Affairs and Security Policy. The authors describe the current context and the increasing inte
Redefining Europe’s economic sovereignty
This Policy Contribution delves into the position of the EU in the current global order. China and the United States increasingly trying to gain geopo
Financial inclusion of SMEs for growth and job creation
How can increased access to finance benefit SMEs? What reforms are needed to encourage SME financial inclusion?
Role of national structural reforms in enhancing resilience in the Euro Area
At this event Gita Gopinath, Chief Economist at the IMF will discuss the role of national structural reforms in enhancing resilience in the Euro Area.
A strategic agenda for the new EU leadership
Memo to the presidents of the European Commission, Council and Parliament. 'A strategic agenda for the new EU leadership' by Maria Demertzis, André Sa
Past, present, and future EU trade policy: a conversation with Commissioner Malmström
What was trade policy during the last European Commission? What will be the future of European trade under the next Commission?
EU-LAC Economic Forum 2019: New perspectives in turbulent times
The third edition of the EU-LAC Economic Forum.
Europe after Sibiu: Towards differentiated integration?
A comprehensive follow-up to the Informal European Council in Sibiu, Romania.
Germany’s even larger than expected fiscal surpluses: Is there a link with the constitutional debt brake?
Germany is having a political debate on the adjustment of its budgetary plans due to revised forecasts, and an academic debate on the debt brake. Yet,
What drives national implementation of EU policy recommendations?
The authors use a newly-compiled dataset to investigate whether and why European Union countries implement the economic policy recommendations they re
Life after the multilateral trading system
Considering a world absent a multilateral trading system is not to promote such an outcome, but to encourage all to prepare for the worst and instil g
Spitzenkandidaten series: Manfred Weber
The fifth event in the The Road to Europe - Brussels Briefing Live: Spitzenkandidaten series. The series features the lead candidates for the European
Promoting sustainable and inclusive growth and convergence in the European Union
This speech was delivered by Guntram Wolff at the Informal ECOFIN Meeting in Bucharest on 5 April 2019.
Promoting sustainable and inclusive growth and convergence in the European Union
This Policy Contribution was written for the Informal ECOFIN Meeting, Bucharest, 5 April 2019. The authors look at the EU’s economic agenda, discussin
Spitzenkandidaten series: Luis Garicano
The third event in the The Road to Europe - Brussels Briefing Live: Spitzenkandidaten series. The series features the lead candidates for the European
Spitzenkandidaten series: Bas Eickhout
The second event in the The Road to Europe - Brussels Briefing Live: Spitzenkandidaten series. The series features the lead candidates for the Europea
Changing relationships between Europe and Africa in the face of technological development – can digitalisation, AI and the platform economy help bridge the gap?
This event will look at digitalisation in Europe and Africa and how this is changing the relationship between the two continents
Rethinking industrial policy in the digital age: challenges for Europe
All-day conference about how the European policy-making will have to adapt to the digital transformation.
The European Union’s response to the trade crisis
The global trading system is under attack on various fronts. In this Policy Contribution, the authors examine the root causes of the current problems,
Saving the right to asylum
How to improve the European asylum policy?
What to look out for in the latest European Semester package
Implementation of the European Commission’s country-specific policy recommendations (CSRs) is at a low rate overall. Whether this trend has continued,
Reforming decision-making for EU taxation policy
How should the EU taxation policy be reformed?