The Sound of Economics

Fiona Scott Morton, economist focused on competition and startup-focused 'Regime 0' ideas. Reinhilde Veugelers, innovation policy expert on EU scale-up and market implementation. Tobias Tröger, corporate law scholar with venture capital expertise. They unpack the 28th regime concept, debate targeted versus broad legal designs, discuss notaries and digital hubs, and consider implications for attracting venture finance and scaling firms.

Emmanuel Mourlon-Druol, economic historian at Bruegel, and Francesco Papadia, Bruegel senior fellow on fiscal policy, unpack Italy’s paradox: stronger public finances but stagnant growth. They discuss Meloni’s pragmatic politics, the high‑stakes judiciary referendum, Italy’s historic push for EU joint action, and why structural reform keeps stalling.

Bert Hofman, resident senior fellow at the East Asian Institute and former World Bank economist specializing in East Asian development, offers a first take on China’s 15th Five-Year Plan. He discusses growth targets and demand-side challenges. He explores the plan’s tech push, export controls and innovation dynamics. He considers implications for Europe and argues for strategic policy responses.

Jeromin Zettelmeyer, Bruegel director and trade/industrial policy expert; Klaas Knot, former Dutch central bank governor with deep monetary and stability experience. They discuss risks from Middle East energy shocks and euro-area inflation. They debate the Industrial Accelerator Act, its effects on procurement, subsidies and market fragmentation. They examine Dutch structural limits, pensions, and policy choices for productivity and resilience.

Guntram Wolff, European policy and defence expert; Elina Ribakova, specialist on Russia and war economics; Simone Tagliapietra, energy markets analyst. They discuss how Strait of Hormuz disruptions jolt oil, LNG and electricity prices. They examine Russia’s fiscal gains, risks to Ukraine’s weapons and financing, strains on Europe’s defence industry, and how the green transition and industrial policy shape energy and geopolitical resilience.

Margrethe Vestager, former European Commission competition chief and current DTU board chair, talks EU competition, industrial policy and tech regulation. Ditte Brasso Sørensen, director at think tank EUROPA, leads STOCKTAKING EU and focuses on competitiveness and green/digital transitions. They discuss reducing strategic dependencies, state aid and incentives, anchoring European tech, critical raw materials and lessons from Denmark on balancing sovereignty and integration.

Fraser Howie, long‑term China banking analyst and author, offers historical perspective on China’s huge, state‑dominated financial system. He discusses how banks funnel household savings into politically favoured sectors. Politics keeps banks administered rather than market‑driven. The limits of stimulus, zombie firms, and obstacles to making the yuan fully convertible are explored.

Heather Grabbe, Bruegel researcher on environment and policy, and Estelle Cantillon, economist and nature-based finance specialist, discuss turning nature into tradable financial instruments. They cover nature credits versus shares, durability and governance challenges. They explore who would buy nature finance, the role of governments, and how markets might reflect ecosystem value.

Roel Dom, Bruegel economist on EU fiscal policy, and Pascal Saint-Amans, former OECD tax expert, dig into global and European tax fights. They discuss the fate of the 15% global minimum tax, US carve-outs and digital tax delays. They examine how the EU is seeking new budget resources, tensions over turnover levies, and why tax rules touch sovereignty and policy trade-offs.

Ben McWilliams, Bruegel researcher on electricity and carbon pricing, and Ignacio García Bercero, experienced EU trade and climate negotiator, unpack the EU’s carbon border adjustment. They discuss which sectors and countries face the biggest hits. They debate how to trace emissions for electricity, the political and WTO implications, and how CBAM interacts with carbon markets and industrial policy.