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Fast growth in 2021, but not for everybody
Relevance beyond the crisis: The EU faces stress tests
Some fundamental epidemiologic properties of the Sars-CoV-2 virus remain to be sorted out. However, it is already clear that the pandemic has not imparted a shared sense of purpose on EU member states. Fissures in the European project, which were already evident long before March 2020, are becoming more pronounced ...
Relevance beyond the crisis: Strategies for the euro
Pumping still more liquidity into Europe’s pandemic-frozen economy hardly addresses underlying problems, but this happens to be the most politically palatable strategy that Brussels could pursue. How EU leaders go about financing the massive new outlays, however, is a tricky question. The most likely borrowing scheme will have long-term consequences ...
Britain will thrive after Brexit only if it dares to reform
Leaving the high-cost, bureaucratized European Union is not enough for the UK to unleash its entrepreneur potential, boost its share in global trade and return to high growth. To bring benefits, Brexit would need to be followed by bold liberal reforms: cutting taxes, rolling back government spending and reducing excessive, ...
Focus Germany: Future of the French-German tandem
Brexit has raised expectations of renewed attempts at joint Franco-German leadership of the EU. Without Britain’s leveling role, however, the EU’s prospects under the Berlin-Paris tandem could depend on compromises between German ordoliberalism and French economic interventionism. Smaller member states are concerned that their interests would be shunted aside.