How is the European Stability Mechanism responding to crises, and what will the future of the ESM look like?
By acting together, the European Union can optimise its response to the energy crisis in all scenarios but each country will have to make concessions.
The European Union should take significant economic measures in response to the war in Ukraine, but a new Next Generation EU is not needed yet.
Policymakers must think coherently about the joint implications of their actions, from sanctions on Russia to subsidies and transfers to their own citizens, and avoid taking measures that contradict each other. This is what we try to do in this Policy Contribution, focusing on the macroeconomic aspects of relevance for Europe.
Article published in the Journal of Economic Policy Reform.
Hosting Ukrainian refugees could cost European Union countries in excess of €40 billion this year. A dedicated EU fund is needed to manage the fiscal burden.
A stop to Russian oil and coal supplies would push Europe into a short and painful adjustment period. But if managed well, disruptions would remain temporary.
The European Union should grant candidate status to Georgia, Moldova and Ukraine, as part of a long-term stabilisation strategy.
European Union membership for Georgia, Moldova and Ukraine is at present unrealistic, but they should be offered more than Association Agreements.
At this event Bruegel launches a new Blueprint that collects voices of policymakers and academics on the crucial topic of how to make sure Europe will recover from the pandemic crisis while keeping their commitments to the Paris Agreement.
The EU taxonomy grossly simplifies a complex and dynamic world. It might help prevent green-washing but other tools are needed to guide green investment.
Adjustments to growth forecasts mean some countries will get 10% more than expected and others 20% less in grants from the EU Recovery and Resilience Facility. But the benefits of more quickly rising growth rates dwarf foregone recovery funds.