Paris report 2: Europe's economic security

COVID-19 and the subsequent supply chain congestion, the wake-up call over the dependency of Europe on Russia for energy, and geopolitical shifts and the increasingly adversarial tone of the US-China relationship have underscored the need for a comprehensive reassessment of the EU's economic security strategy. The second Paris Report examines where Europe is vulnerable and where and how it should de-risk. While the new global geoeconomic map may necessitate an EU pivot towards economic security, this must not become an excuse for protectionism, and it must preserve international cooperation. This requires innovative policy instruments, joint preparedness, contingency planning, and stronger governance mechanisms at both the EU and the international level.

A version of the first chapter was published yesterday as a Bruegel Policy brief and a CEPR Policy insight. Read it here: ‘How to de-risk: European economic security in a world of interdependence’.