Publications

Climate change could trigger debt crises, with adaptation providing only partial relief

Climate change is likely to significantly undermine sovereign debt sustainability, especially from the mid-2040s

Matteo Calcaterra, Andrea Consiglio, Vincenzo Martorana, Massimo Tavoni and Stavros Zenios

The quickly fading memory of why and when bank capital is important

Deregulation should not be equated with lowering capital requirements in the EU

Jesper Berg, Nicolas Boivin and Hans Geeroms

Ending European Union imports of Russian uranium

Continuing to do business with Rosatom, the company responsible for the commercial relationship on uranium with the EU, raises four issues

Olena Lapenko, Ben McWilliams, Roman Nitsovych and Georg Zachmann

Green intersections: the global embedding of climate change in policy

Ketan Ahuja, Rim Berahab, Margherita Bianchi, Jason Bordoff, Mauricio Cárdenas, Ruud De Mooij, Karim El Aynaoui, Vitor Gaspar, Heather Grabbe, Ricardo Hausmann, Jomo Kwame Sundaram, Wensheng Peng, Avinash Persaud, Simone Tagliapietra, Nathalie Tocci and Xiaochuan Zhou

The governance and funding of European rearmament

Europe must accelerate rearmament through deeper cooperation and innovative governance to counter Russia’s aggression and shifting US policies

Guntram B. Wolff, Armin Steinbach and Jeromin Zettelmeyer

Making the best of the new EU Social Climate Fund

Governments should employ good practices in tackling building and transport emissions whilst protecting the most vulnerable

Eva Jüngling, Giovanni Sgaravatti, Simone Tagliapietra and Georg Zachmann

Europe urgently needs a common strategy on Russian gas

An uncoordinated approach threatens EU energy security and the green transition

Ugnė Keliauskaitė, Simone Tagliapietra and Georg Zachmann

Dilemmas for the EU in deficit-financing of defence expenditure and maintenance of fiscal discipline

In this paper, we assess the implications of the recourse to the escape clauses of the Stability and Growth Pact

Lucio Pench

The demographic divide: inequalities in ageing across the European Union

Demographic changes will pose challenges to all EU countries, but not in a uniform way

David Pinkus and Nina Ruer

How DeepSeek has changed artificial intelligence and what it means for Europe

This Policy Brief analyses innovations in AI models over the past half year and examines the economic implications for AI companies and policymakers

Bertin Martens

Sustainability rules are not a block on EU defence financing, but reputational fears are

To mobilise private capital for weapons, the European Commission should clarify the status of defence investing in its sustainable finance framework

Silvia Merler

Reinforcing EU merger control against the risks of acquisitions by big tech

The burden of proving that a merger is not anti-competitive should be shifted onto gatekeepers

Mario Mariniello

Ukraine: European democracy’s affordable arsenal

A future enlarged EU, including Ukraine, should take full advantage of the lower-cost military production capabilities of Ukraine

Jacob Funk Kirkegaard

Thinking European first and its implications

Faced with heightened geopolitical uncertainty, the European Union should base its actions on an overarching principle of ‘thinking European first’

Kalin Anev Janse, Roel Beetsma, Marco Buti and Catherine de Vries

Capital markets union: a deep dive

Five measures to foster a single market for capital

Alexia-Styliani Arampatzi, Rebecca Christie, Johanne Evrard, Laura Parisi, Clément Rouveyrol and Fons van Overbeek

Can Germany afford to take most defence spending out of its debt brake?

Higher German defence spending would be fiscally sustainable, but would require cuts elsewhere and would breach EU fiscal rules

Jeromin Zettelmeyer