The Sound Of Economics

While the term Japanification is usually taken negatively, Japan actually managed a very challenging economic situation with an ageing population and low productivity growth. As the rest of the world grapples with the same structural decline in population, Rebecca Christie sits down with Jacob Funk Kirkegaard and Takeshi Tashiro to explore what lessons Europe and beyond can learn from Japan’s experiences, what worked and what didn’t work, including fiscal sustainability, private savings, as well as workforce participation and productivity.

In this episode of The Sound of Economics, Conor Brummell explores the topic of multilingualism within the European Union. He is joined by language experts Margo Sjis, Head of the Dutch Unit in DG Interpretation of the European Commission and Merje Laht, Head of the Estonian Unit in DG Interpretation of the European Commission and Aislínn McCrory, Head of the Irish Translations Unit in the European Commission.  Each of the language experts explain the historical, cultural, and political importance of their native tongues, before diving into the need for language diversity within the European institutions, which play a vital role in preserving and promoting European languages. They speak about the technical skills required for translation and interpretation and the importance of these services for inclusivity and democratic participation in the EU.  Finally, the conversation culminates with the language experts giving their insights on English becoming the lingua franca of the EU, and the cost to democracy i

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!

In this episode of The Sound of Economics, Rebecca Christie sits down with Bruegel Senior fellow Zsolt Darvas and Jennifer D. Sciubba, President and CEO of the Population Reference Bureau from Washington DC. Together, they explore the findings of Darvas’ recent paper on the effects of demographic changes on public debt sustainability, which was presented at the informal Meeting of Economic and Financial Affairs Ministers on 14 September 2024. Darvas pointed out that countries will have to devote a much larger share of their budget for paying for pensions and health care and elderly care, and fiscal adjustments might not be enough to cover these. Sciubba emphasizes the urgency for policymakers to acknowledge the change in demographics and work toward actionable 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 liter

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

In this episode of The Sound of Economics, Yuyun Zhan sits down with Alicia García-Herrero and Eric Olander to explore China’s economic engagements in Africa, both in the historical and the modern-day context. They also discuss the criticisms China faces from African countries and the West when it comes to foreign direct investment, trade, opacity and more. While Olander claims that China brings a forward-looking vision to Africa, Garcia Herrero argues that the reality is sometimes different from the narratives. 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! Relevant resource: China economic database, Bruegel dataset compiled by Alessia Amighini, Alicia García-Herrero, Michal Krystyanczuk, Robin Schindowski and Jianwei Xu, Updated monthly

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.

In October 2023, the European Union launched an investigation into whether Chinese electric vehicle (EV) manufacturers were receiving unfair subsidies which give them an advantage in the market. In June 2024, the European Commission announced the preliminary conclusion that it would levy additional tariffs of between 17.4ؘ–38% on Chinese electric vehicles (EVs). This would be placed on top of an existing 10% import duty. These duties are set to provisionally come into effect in early July, with a proposal for permanent measures expected in November, subject to a decisive vote. In this episode of The Sound of Economics, Yuyun Zhan sits down with Alicia García-Herrero and George Magnus to discuss the EV investigation, the impact of China’s industrial policy on its mass-production growth model, why this approach is now facing resistance, and the broader implications of China’s overcapacity for the EU and the global market. Relevant publications: García-Herrero, A. and R. Schindowski (2024) ‘Unpacking China’s

In this episode of The Sound of Economics, Rebecca Christie sits down with Tony Connelly, Europe editor of Irish public service broadcaster RTÉ, and David Gow, who chairs the Royal Society of Edinburgh's EU-Scotland initiative. They discuss EU-UK relations after Brexit, how Scotland, Northern Ireland and Wales fit into the picture, upcoming British elections, and long-term prospects for Irish unity. This episode was recorded on 6 June 2024.

In this episode of The Sound of Economics, Bruegel’s non-resident fellow Dirk Schoenmaker presents his latest book ‘Corporate Finance for Long-Term Value’ with host Rebecca Christie and CFO at Nederlandse Gasunie, Janneke Hermes. They talk about how corporate finance and sustainability can go together. New models can help firms quantify the cost of social and environmental factors, so they can plan better for the long term. The podcast also explores how investors can guide funding to certain companies and projects without sacrificing return and thus speed up the transition to a sustainable economy.

Bruegel and the Financial Times partnered up to host a debate featuring lead candidates from major EU political parties on EU economic issues, namely growth, the single market, economic security and the EU budget. The participants of the debate were: Sandro Gozi, Renew Europe Now Ursula von der Leyen, The European People's Party Nicolas Schmit, the Party of European Socialists Anders Vistisen, Identity and Democracy Party In this episode of The Sound of Economics, Rebecca Christie sits down with Bruegel Senior fellow Maria Demertzis, FT Brussels bureau chief Henry Foy, also moderators of the debate, to unpack the views they gathered from the event, discuss how the elections are likely to turn out and what will happen afterwards.    Relevant events and publications: Economic choices for Europe: EU leadership debate 2024, Bruegel-Financial Times event, 21 May 2024 Visions for Europe: Economic expert debate for the 2024 EU elections, Bruegel-Financial Times event, 15 April 2024  Saint-Amans, P. (2024) ‘Br

In this episode of The Sound of Economics, Yuyun Zhan talks to Bruegel Senior fellow Alicia García-Herrero and President of the European Union Chamber of Commerce in China, Jens Eskelund, about foreign companies doing business and investing in China. They discuss the difficulties of navigating current geopolitical tensions as well as China’s domestic environment. Jens presented the latest results from the European Business in China Business Confidence Survey 2024, which shows that despite the re-opening of China’s borders in early 2023, business confidence in the market continued on a downward trend. They discuss what measures the Chinese government has pursued to appeal to investors, debating whether they are persuasive enough. 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!

In a world of increasing uncertainties, the European Union’s need to protect itself from new shocks is on the rise. Pandemic-related supply disruptions,  the energy crisis provoked by Russia’s invasion of Ukraine, and economic coercion coming from China have all shown that the EU needs to do more to prepare itself for what may come. But how should Europe de-risk its external relationships without foregoing the benefits of trade? Rebecca Christie talks to Bruegel Director Jeromin Zettelmeyer and CEPR President Beatrice Weder di Mauro about their new report, “Paris Report 2: Europe’s Economic Security”. Relevant publications: Pisani-Ferry, J, B Weder Di Mauro and J Zettelmeyer (eds) (2024), ‘Paris Report 2: Europe's Economic Security‘, CEPR Press, Paris & London Pisani-Ferry, J., B. Weder di Mauro and J. Zettelmeyer (2024) ‘How to de-risk: European economic security in a world of interdependence’, Policy Brief 07/2024, Bruegel

The relationship between the European Union and the North Atlantic Treaty Organization is at the heart of efforts to help Ukraine after Russia's 2022 invasion. How do the alliances work together and how can further cooperation help?   In this episode of The Sound of Economics, Rebecca Christie speaks with Oana Lungescu, who served as the longest serving NATO (the North Atlantic Treaty Organization) Spokesperson and is now a Distinguished Fellow at the Royal United Services Institute, and Guntram B. Wolff, Senior fellow at Bruegel,  to discuss NATO and the EU. How do they each contribute to Europe’s defence strategy? Where do they overlap and not? How will they work together to find the necessary financing to help Ukraine and coordinate defence procurement in the future? They also discuss the role of NATO members who are not part of the EU such as Türkiye, the United Kingdom and the United States under the current political climate.