The Sound of Economics

Alicia García-Herrero, a senior fellow at Bruegel specializing in the Chinese economy, and Alfred Schipke, a professor at Lee Kuan Yew School of Public Policy, dive into China's new stimulus package. They unravel its design as a rescue for the ailing economy, particularly its focus on real estate and local government debt. García-Herrero likens it to a cleanup effort, while Schipke points out the lack of direct support for households. They argue for necessary structural reforms to bolster long-term recovery amidst these economic maneuvers.

Join Jacob Funk Kirkegaard, a Senior Fellow at Bruegel, and Takeshi Tashiro, a Non-resident Senior Fellow at the Peterson Institute, as they explore the complex lessons Europe can learn from Japan’s economic struggles. They discuss Japan's effective management of aging populations, low productivity, and high public debt. The conversation dives into labor participation trends, the importance of fiscal sustainability, and innovative financing solutions needed for a sustainable energy transition. Gain fresh perspectives on addressing Europe’s emerging economic issues!

Merje Laht, Margo Sjis, and Aislínn McCrory, experts from the European Commission, delve into the vital role of language diversity in the EU. They discuss the resilience of Estonian and Irish languages and the nuances of Dutch in Belgium and the Netherlands. The conversation highlights the importance of translation and interpretation services in ensuring democratic participation. The guests also examine the dominance of English and the risks it poses to inclusivity, advocating for the preservation of native languages to enrich EU communication.

In this episode of The Sound of Economics, Rebecca Christie invites Bruegel’s own Simone Tagliapietra and Cecilia Trasi, as well as Jacob Werksman, Principal Adviser of European Commission’s DG Clima, to examine the EU’s global green agenda and the challenges of balancing decarbonisation, competitiveness, and strategic autonomy. They discuss how the EU’s green geoeconomic approach should support global decarbonisation efforts and strengthen the EU's strategic position. Relevant publications and events: Sgaravatti, G., S. Tagliapietra and C. Trasi (2024) ‘Re-energising Europe’s global green reach’, Policy Brief 11/2024, Bruegel Re-energising Europe’s global green reach, Bruegel event with Anthony Agotha, Norbert Gorissen, Simone Tagliapietra, Cecilia Trasi and Jacob Werksman Bolton, P., A.M. Kleinnijenhuis and J. Zettelmeyer (2024) ‘The economic case for climate finance at scale’, Policy Brief 09/2024, Bruegel

In this episode of The Sound of Economics, Yuyun Zhan sits down with Alicia García-Herrero and Abigaël Vasselier to assess the new reality of EU-China relations and explain why the European Union must prepare for a much more difficult relationship with China. Relevant publication: García-Herrero, A. and A. Vasselier (2024) ‘Updating the EU strategy on China: co-existence while de-risking through partnerships’, Policy Brief 27/2024, Bruegel This episode is part of the ZhōngHuá Mundus series of The Sound of Economics. ZhōngHuá Mundus is a newsletter by Bruegel, bringing you monthly analysis of China in the world, as seen from Europe. Sign up now to receive it in your mailbox!

Zsolt Darvas, a senior fellow at Bruegel specializing in public debt, and Jennifer D. Sciubba, President of the Population Reference Bureau, tackle the pressing issue of demographic changes and their impact on public finances. They discuss how an aging population is straining pension and healthcare budgets, requiring urgent policy adjustments. The conversation includes challenges in standardizing retirement ages across Europe and strategies from countries like Japan and South Korea to adapt to an older workforce, highlighting the need for innovative solutions.

In this episode of The Sound of Economics, Rebecca Christie sits down with Eurogroup president Paschal Donohoe and Bruegel Senior fellow Guntram Wolff to discuss the EU's dire defence and security challenges and the role of public finances. They also discuss Wolff's latest report on Europe's and Germany's slow rearmament, particularly compared to Russian arms production. Listen to Donohoe's speech at Bruegel Annual Meetings about the Eurogroup's immediate priorities here.

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 2024 https://www.bruegel.org/anthology/memos-new-eu-leadership-2024 https://www.bruegel.org/BAM2024 Assets purchase programme https://www.bruegel.org/policy-brief/effectiveness-european-central-banks-asset-purchase-programme Productivity https://www.bruegel.org/policy-brief/productivity-paradox-policy-lessons-microprod Financial literacy https://www.bruegel.org/opinion-piece/financial-literacy-and-fearless-woman https://www.bruegel.org/policy-brief/state-financial-knowledge-european-union Rubles payment https://www.bruegel.org/blog-post/sanctions-counter-measure-gas-payments-russia-rubles Digital euro https://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