The Sound of Economics

In this episode our senior fellow, André Sapir discusses with Uri Dadush, non-resident scholar here at Bruegel about President Trump's announcement to apply a 25% tariff on all steel and a 10% tariff on all aluminium imports into the United States.

What comes next for the euro area? Europe has emerged from crisis, and progress has been made with banking union; but more can be done to reform the EU budget and improve the public perception not only of EU money but of the Union itself. Gideon Rachman, chief foreign affairs correspondent at the Financial Times, and Manfred Weber, chair of the EPP Group in the European Parliament, discuss their thoughts on current state and future direction of the euro area alongside Bruegel director Guntram Wolff.  Guntram Wolff, Gideon Rachman and Manfred Weber enjoyed a lengthier debate on this same topic at the third Bruegel-Financial Times Forum earlier this week.

Bruegel senior fellow André Sapir clarifies the UK's options for a new relationship with the EU in the wake of Brexit. The UK's position relative to the European Union following Brexit remains undecided. With negotiations ongoing, Bruegel senior fellow André Sapir explains the UK's options, and explores the scope for a new kind of relationship between the two parties. This latest episode of 'The Sound of Economics' considers what it might mean, in reality, for the UK to remain in a customs union with the EU but to leave the single market, as well as what the examples of Turkey and Norway can indicate about the UK's potential future dealings with the EU. André Sapir has also co-authored a blog post with Bruegel deputy director, Maria Demertzis, elaborating on the various paths open to the UK in phase two of the Brexit negotiations. Maria Demertzis has more recently considered in a blog post why a positive Brexit outcome matters not just for the UK, but for the EU too.

Bruegel director Guntram Wolff frames the two debates that will dominate the upcoming meeting of the European Council on 23 February 2018 – the shape of the next EU budget, and the method by which a new European Commission president will be appointed. Major questions still hang over the next EU budget, or multiannual financial framework (MFF), and not just because of Brexit. The next budget, another seven-year MFF that will run from 2021 through to 2027, will likely reflect Europe’s developing priorities in sectors such as defence, border control and fighting climate change. Other sectors may face a cut in spending, particularly given the shortfall left as a result of the UK’s departure. Elsewhere, the European Council and European Parliament have still to reach agreement over the future of the Spitzenkandidaten process, by which the appointment of current European Commission president Jean-Claude Juncker was decided in 2014. These topics are lead items on the agenda for the European Council meeting on February 23. Bruegel director Guntram Wolff features in this episode of ‘The Sound of Economics’, highlighting the key considerations and likely deciding factors in the debates still to be had.

Bruegel fellow Georg Zachmann joins Richard Tol, professor in the Department of Economics at the University of Sussex, and Pieter-Willem Lemmens, head of analysis at the climate policy think-tank Sandbag, for this episode of 'The Sound of Economics', to discuss the impact of Brexit on climate and energy policy in the European Union Britain's departure from the European Union poses questions not only for the EU energy market, but the bloc-wide climate-change targets and emissions trading system. Presented by Sean Gibson, edited by Giuseppe Porcaro In the energy context, Brexit not only marks the separation of Britain from the EU but also places Ireland in a uniquely difficult position, having previously utilised infrastructure in Britain to connect to the rest of the EU. On the matter of climate change, the loss of Britain might make it more difficult for Europe to meet current targets, and set further ambitious goals for the future. In this episode of 'The Sound of Economics', senior Bruegel fellow Georg Zachmann joins the conversation with Richard Tol, professor in the Department of Economics at the University of Sussex, and Pieter-Willem Lemmens, head of analysis at the climate policy think-tank Sandbag. Georg Zachmann co-authored a research paper in November 2017 for the European Parliament’s Committee on Industry, Research and Energy, about the impact of Brexit on the Irish energy system - also writing a Bruegel blog post on the same topic. More recently Georg has written an opinion piece on how climate-change policies risk increasing social inequality.

The final document on the German coalition agreement will have significant consequences for the European Union and the Eurozone. Bruegel director Guntram Wolff gives his assessment of the agreement's key features in this episode of 'The Sound of Economics' The negotiations to form the next German government have been a significant factor in European affairs for months now. With an agreement finally struck, this episode of 'The Sound of Economics' sees Bruegel director Guntram Wolff analyse the document of the agreement and what it means for the EU. In short, there is a lot of continuity: the Bundestag remains in charge of the European Stability Mechanism, and the EU's fiscal rules are praised; there will be money for the EU budget, too. More significant is the will to move towards a common tax base and minimum tax rate for corporate taxation. Overall, this is not a breakthrough for Europe. Further reading: What has driven the votes for Germany’s right-wing Alternative für Deutschland? - by Alexander Roth and Guntram B. Wolff SPEAKER: Guntram B. Wolff, Director, Bruegel. PRODUCTION: Sean Gibson & Giuseppe Porcaro

Brexit has afforded the European Parliament with the opportunity to reform - but will the current proposals for reallocating the UK's 73 seats after 2019 fully realise that opportunity? In the latest chapter of 'The Sound of Economics', Bruegel director Guntram Wolff highlights the potential political ramifications of seat reallocation, and the difficulties inherent in making the Parliament more representative while staying within the bounds of previous agreements. Read more on the topic on Bruegel website SPEAKER Guntram B. Wolff, Director, Bruegel PRODUCTION Sean Gibson & Giuseppe Porcaro

SUMMARY:  Manufacturing in its 21st century guise is markedly different from its traditional portrayal. Innovations are not only improving the efficiency of production processes but are also allowing for the establishment of more complex supply chains, with smarter communications systems and big-data management systems driven by an increasing digitalisation. Companies in a variety of sectors in Europe are having to adapt quickly to keep pace with the change. In this episode of the Sound of Economics, Simone Tagliapietra discusses how the established energy companies are ensuring they stay relevant in this new age; J. Scott Marcus elaborates on the opportunities thus far missed in Europe to make e-commerce work better for everyone; and Reinhilde Veugelers looks at what Europe needs to do to maintain a global presence as new manufacturing takes hold, and what lessons might be learnt from elsewhere. Each of these three scholars has contributed significant research to the Bruegel Blueprint publication 'Remaking Europe: the new manufacturing as an engine for growth', which explores the topic of new manufacturing in Europe across many sectors. SPEAKERS J. Scott Marcus, Senior Fellow, Bruegel Simone Tagliapietra, Research Fellow, Brugel Reinhilde Veugelers, Senior Fellow, Bruegel PRODUCTION Sean Gibson & Giuseppe Porcaro

The issue of member-state integration in two or more speeds is one of the recurring questions in the debate about the European project. While previously this was a subject for academic circles, it has now moved into policy circles. Is this the future of Europe? Would the idea of proceeding in two or more speeds provoke a break-up of the EU? Is it an opportunity for each country to rethink and renew its commitments to the European project? In this episode of the Sound of Economics, Bruegel's deputy director, Maria Demertzis, asks some of these questions to Sandro Gozi, Italy's State Secretary for European Affairs. #Multispeed #Europe #FutureOfEurope #EU

Senior Bruegel fellow Zsolt Darvas discusses the impact and integration of migrants in the European Union, based on a new research paper he has co-authored with Uuriintuya Batsaikhan and Inês Gonçalves Raposo. Joining him on 'The Sound of Economics' is Manu Bhardwaj, vice president for research and insights at the Mastercard Centre for Inclusive Growth, while Sean Gibson takes the reins of his first podcast as the new Bruegel press officer. Zsolt Darvas has written several blogs ahead of the release of the research paper, the issues of which are discussed in this episode: How the EU has become an immigration area by Zsolt Darvas Support for intra-EU mobility of people is on the rise by Zsolt Darvas The challenge of fostering financial inclusion of refugees by Zsolt Darvas In addition, watch Bruegel's event on the same topic: Better policies for people on the move SPEAKERS  Manu Bhardwaj, Vice President for Research and Insights, Mastercard Center for Inclusive Growth, & Zsolt Darvas, Senior Fellow, Bruegel PRODUCTION  Sean Gibson & Giuseppe Porcaro