The Sound of Economics

The Memos to the European Union leadership have been a Bruegel tradition since 2009. Every five years – after the European elections but before a new European Commission takes office – we take stock of EU economic policies, reflect on the EU's main challenges, make recommendations on how the new leadership should address them.In this episode of The Sound of Economics, Rebecca Christie invites the book's editors, Maria Demertzis, André Sapir and Jeromin Zettelmeyer, to unpack the crown memo to the Presidents of the European Commission, Council and Parliament. Their key takeaways are: support Ukraine; work toward the 2040 climate goals; and defend competition, openness and multilateralism.Bruegel holds its flagship event, the Bruegel Annual Meetings in Brussels on 4-5 September 2024. It serves as the moment to launch the Memos and discuss the issues with policy makers and experts. Join us for the conversation!

Maria Demertzis sits down in the studio of The Sound of Economics for one last time in her capacity as Senior fellow and Bruegel’s former Deputy director. In this episode, she reflects on the eight years of her work. What have been the major challenges for the EU and how has Bruegel responded to them? Why does she feel strongly about financial vulnerability and what she sees as the next great challenges for the EU leadership? From inflation to the Fearless girl statue, Maria shares her wide-reaching insights in an interview with Bruegel’s Head of Communications, Katja Knežević.Research mentioned:Memos to the European Union leadership 2024-2029 and Bruegel Annual Meetings 2024https://www.bruegel.org/anthology/memos-new-eu-leadership-2024https://www.bruegel.org/BAM2024Assets purchase programme https://www.bruegel.org/policy-brief/effectiveness-european-central-banks-asset-purchase-programmeProductivityhttps://www.bruegel.org/policy-brief/productivity-paradox-policy-lessons-microprodFinancial literacyhttps://www.bruegel.org/opinion-piece/financial-literacy-and-fearless-womanhttps://www.bruegel.org/policy-brief/state-financial-knowledge-european-unionRubles paymenthttps://www.bruegel.org/blog-post/sanctions-counter-measure-gas-payments-russia-rublesDigital eurohttps://www.bruegel.org/policy-brief/value-added-central-bank-digital-currencies-view-euro-area

By 2030, the European Union must reduce emissions from the heating and cooling of buildings – responsible for 13 percent of EU emissions – by the equivalent of the annual emissions of Slovakia.In this episode of The Sound of Economics, Rebecca Christie sits down with Michael Pahle, Marion Santini and Giovanni Sgaravatti to discuss how greener buildings can play contribute to Europe’s decarbonisation efforts. They discuss new EU rules, expanding the emissions trading scheme, and the need to find financing for energy-friendly renovations, as well as how to shield households and small companies from the impact of higher carbon prices.Relevant publication and event:  Keliauskaitė, U.,B. McWilliams, G. Sgaravatti and S. Tagliapietra (2024) ‘How to finance the European Union’s building decarbonisation plan’, Policy Brief 12/2024, Bruegel How to finance building decarbonisation in the EU, Bruegel event, 2 July 2024

Yuyun Zhan and Alicia García-Herrero discuss China's economic engagements in Africa, addressing criticisms on FDI, trade, and opacity. They compare China's impact to Europe, debt restructuring challenges, manufacturing hurdles, US/Europe vs. China's approaches, and China's investments in tech and infrastructure.

In this episode of The Sound of Economics, Rebecca Christie is joined by Bruegel fellow Ben McWilliams and Johanna Schiele, a Policy Officer at the Innovation Fund in the European Commission, to discuss the benefits and challenges of hydrogen as a clean energy source.Throughout this episode, they explore whether hydrogen could be used as alternative to the extracting and burning of fossil fuels, explaining the hurdles that need to be addressed for it to become a mainstream energy solution. With strategic support and investments, hydrogen could play a significant role in the transition to a sustainable energy future.

In this episode of The Sound of Economics, Rebecca Christie discusses the current global trade landscape with Penny Naas, of the German Marshall Fund and Atlantic Council, and Niclas Poitiers from Bruegel. They explore the challenges of balancing economic resilience, protectionism, and the push for green technologies amid these transformations. Naas and Poitiers provide insights into the rationale behind the differing approaches of the US and EU towards tariffs and industrial subsidies, as well as the broader impact on global trade relations. They also touch on the role of the WTO in navigating these complex dynamics and the future of international trade policies.

Rebecca Christie sits down with Jean Pisani-Ferry and André Sapir to discuss the upcoming parliamentary elections in France, amidst growing voter dissatisfaction and legislative gridlock. They discuss the political intrigues behind the upheaval and highlight the potential consequences of a National Rally-dominated assembly, which could obstruct European Union decisions and implement protectionist and anti-EU policies, creating significant roadblocks for European integration and economic policies. On top of that, they also discuss the reactions from financial markets and potential turmoil for French budget.

EU proposes tariffs on Chinese electric vehicles due to alleged unfair subsidies, sparking discussions on changing global trade dynamics. Experts analyze China's industrial policy and overcapacity issues, potential impact on EU market reputation and world trade. Insights on EU Commission's shift on trade interventions, implications for global south countries like Brazil and India.

Tony Connelly and David Gow discuss EU-UK relations post-Brexit, focusing on Scottish, Northern Irish, and Welsh roles, upcoming UK elections, and Irish unity prospects. They explore challenges in negotiations, customs union complexities, evolving EU free movement landscape, and rising support for a United Ireland. Global uncertainties and political shifts are also analyzed, including concerns over far-right rise and future direction of Europe amidst shifting dynamics.

Janneke Hermes, CFO at Nederlandse Gasunie, joins host Dirk Schoenmaker to discuss how corporate finance can align with sustainability goals, guiding funds to accelerate the green transition. They explore new models for firms to quantify social and environmental costs, while ensuring returns for investors. The conversation delves into transitioning to green technologies and the role of the financial sector in driving sustainability worldwide.