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Sound Money Economics System was a fringe political party in Manitoba, Canada, during the provincial election of 1941.

Articles by The Sound of Economics

The Art of the Brexit Deal

3 days ago

An emergency Brexit podcast to dissect today’s tentative deal between the EU27 and the British Government, featuring Maria Demertzis, Guntram Wolff and Nicholas Barrett By: The Sound of Economics Date: October 17, 2019 Topic: European Macroeconomics & Governance The British government has reached a deal with the EU27. The agreement is still subject to approval by the British and European parliaments, as well as the European Council. But is it good news for Brussels? How will Britain strike favourable trade deals when all this is over? And, with a new relationship between Brussels, London and the world yet be realised, is this the beginning of the end or just the end of the beginning?

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Brexit: a European Odyssey

10 days ago

Nicholas Barrett and Guntram Wolff talk to Kalypso Nicolaïdis, author of Exodus, Reckoning, Sacrifice: Three Meanings of Brexit. Together they discuss the mythology that binds Britain to continental Europe By: The Sound of Economics Date: October 11, 2019 Topic: European Macroeconomics & Governance In June 2016, 17.4 million people voted to leave the European Union. Since then, Brexit has descended into a complicated and polarising melodrama. But beyond the technical and cultural battlefields, what does Brexit actually mean, not just for Britain for the EU too?  And what does it tell us about Brussels?This week, Nicholas Barrett and Guntram Wolff sit down with Kalypso Nicolaïdis, author of Exodus, Reckoning, Sacrifice: Three Meanings of Brexit. Together they discuss the mythology

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Deep Focus: What’s slowing the Mercosur agreement?

23 days ago

The EU-Mercosur has been 20 years in the making, but a hostile trading environment, unpredictable government and growing environmental concerns are putting it in peril. Is the deal worth fighting for and can it be saved? And could it become a casualty Brazil’s forest fires?

The European Union and Mercosur – a customs union covering Argentina, Brazil, Paraguay and Uruguay  – have spent two decades negotiating a trade agreement. The gains are modest the ratification process will be anything but easy. Nevertheless, the deal is worth fighting for according to Uri Dadush. This week he joins Nicholas Barrett on our Deep Focus podcast to discuss the perils and process of an agreement that could be as significant to the globe’s climate as it is for the global economy.
Read the latest policy

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Deep Focus: What is a hybrid attack?

September 18, 2019

Hybrid attacks are fast, dynamic and ever-evolving. They can cross borders and span industries. They are best dealt with at the national level, but without international cooperation, nation-states are bound to be overwhelmed. So should hybrid attacks must be repelled by responsive nation-states and by cooperative international bodies. By: The Sound of Economics Date: September 18, 2019 Topic: Innovation & Competition Policy Increasing cyber and hybrid risks will test the European Union’s system of fragmentation on issues of security but centralisation on financial and other economic issues. This asymmetry was not an obstacle in a world in which security threats were more contained or of a different nature. But the world is changing.  But what is a hybrid attack and whose

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Director’s Cut: The Green New Deal

September 11, 2019

In this Director’s Cut of ‘The Sound of Economics’, Guntram Wolff and Simone Tagliapietra discuss the division of tasks for the new EU commissioners, following Ursua Von der Leyen’s announcement of roles on 10th September. They specifically zoom in on the role of the Green Deal, one of the flagship projects of this commission.The layout of the commission has largely changed this year. A key part being that there are now three executive Vice Presidents, driving three main economic issues. Frans Timmermans, responsible for the implementation of the Green Deal; Margrethe Vestager, responsible for the digital age and competition policy and Valdis Dombrovskis, responsible for economy and financial services. The major change being that, in this commission, the Vice Presidents also have their own

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Backstage at BAM19: Designing a competition policy fit for Europe’s needs.

September 5, 2019

Backstage at the Bruegel Annual Meetings, Rebecca Christie talks with Mathew Heim on competition policy. By: The Sound of Economics Date: September 5, 2019 Topic: Innovation & Competition Policy Should competition policy adjust to current concerns and support industrial policy? How can we contextualise long-run consumer welfare? How can we maintain independence and objectivity in enforcement? In this podcast, Rebecca Christie discusses competition policy, with Mathew Heim.

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Backstage at BAM19: How much further reform is needed for the new financial sector?

September 5, 2019

Backstage at the Bruegel Annual Meetings, Rebecca Christie talks with Nicolas Véron on the new financial sector.Is current financial architecture working as intended? If not, can it be fixed at the margin, or does it require holistic overhaul? Can such reforms be envisaged in a way that gives satisfaction to most or all member states? In this podcast, Rebecca Christie discusses financial sector architecture with Nicolas Véron.

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Backstage at BAM19: Enhancing Europe’s economic sovereignty

September 5, 2019

Backstage at the Bruegel Annual Meetings, Nicholas Barrett talks with Jean Pisani-Ferry on Europe’s monetary union. By: The Sound of Economics Date: September 5, 2019 Topic: European Macroeconomics & Governance What can the EU’s incoming leadership do to protect Europe’s economic autonomy in light of America and China’s economic, geopolitical struggle for supremacy? In this podcast, Nicholas Barrett discusses enhancing Europe’s economic sovereignty, with Jean Pisani-Ferry.

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Backstage at BAM19: Priorities for Europe’s monetary union

September 5, 2019

Backstage at the Bruegel Annual Meetings, Nicholas Barrett talks with Zsolt Darvas on Europe’s monetary union. By: The Sound of Economics Date: September 5, 2019 Topic: European Macroeconomics & Governance How complete is Europe’s monetary union? Is the euro area ready for a next recession or an economic crisis? What should be the reform priorities? In this podcast, Nicholas Barrett discusses the priorities for Europe’s monetary union, with Zsolt Darvas.

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Backstage at BAM19: AI, robots and platform workers

September 4, 2019

Backstage at the Bruegel Annual Meetings, Giuseppe Porcaro talks with J. Scott Marcus on AI, robots and platform workers. By: The Sound of Economics Date: September 4, 2019 Topic: Innovation & Competition Policy Will increasing use of AI, machine learning, robots and big data lead to massive unemployment? How are non-traditional workers and the self-employed to obtain health insurance and pensions? What role should public policy play going forward? In this podcast, Giuseppe Porcaro discusses the future of AI, robots and platform workers, with J. Scott Marcus.

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Backstage at BAM19: Which priorities for the new EU leadership?

September 4, 2019

Backstage at the Bruegel Annual Meetings, Rebecca Christie talks with Guntram Wolff on priorities for the new EU leadership, the Annual Meetings and Commissioner Malmstrom’s keynote. By: The Sound of Economics Date: September 4, 2019 Topic: European Macroeconomics & Governance When the last Commission took office in 2014, Europe was consumed by the eurozone crisis. Today, the incoming leadership must decide how to deal with a variety of issues. In this podcast, Rebecca Christie discusses the priorities for the new EU leadership, with session chair Guntram Wolff.

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Backstage at BAM19: Europe’s trade policy

September 4, 2019

Backstage at the Bruegel Annual Meetings, Giuseppe Porcaro talks with André Sapir on European trade policy.How should and will the EU position itself vis-à-vis the US and China, both bilaterally and multilaterally in the context of the WTO system? In this podcast, Giuseppe Porcaro discusses Europe’s trade policy, with André Sapir.

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Backstage at BAM19: How can Europe’s economy thrive in the digital age?

September 4, 2019

Backstage at the Bruegel Annual Meetings, Giuseppe Porcaro talks with session chair Reinhilde Veugelers on Europe’s economy in the digital age. By: The Sound of Economics Date: September 4, 2019 Topic: Innovation & Competition Policy What corporate strategies and public policy support are needed to turn the potential of digital technologies into opportunities for sustainable growth of EU firms, and for addressing EU societal challenges? In this podcast, Giuseppe Porcaro discusses how Europe’s economy can thrive in the digital age, with Reinhilde Veugelers.

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Deep Focus: Energy transition in the next EU institutional cycle

July 10, 2019

Bruegel fellow Simone Tagliapietra speaks to Sean Gibson in this instalment of ‘The Sound of Economics’, on the matter of the European energy transition and how the EU should proceed in the new institutional cycle.

When the dust settles after the recent European elections, and as the new Commission takes office, the problem of climate change – and its accompanying policy challenges – will remain one of the EU’s chief agenda items.
One significant facet is the transition of Europe’s energy generation to more renewable sources. The EU has to find a way to decarbonise particular sectors much more quickly than has been managed so far, while allowing for and managing the distributional consequences of such policies for the continent’s population.
Simone Tagliapietra has co-written a

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Director’s Cut: Priorities for the new ECB president

July 4, 2019

In this Director’s Cut of ‘The Sound of Economics’, Guntram Wolff talks to two of the authors of Bruegel’s memo to the new ECB president, Maria Demertzis and Grégory Claeys, to specify the most important issues at the beginning of this eight-year cycle and to clarify the parameters within which the new incumbent will have to work.
By:
The Sound of Economics
Date: July 4, 2019
Topic: European Macroeconomics & Governance

A difficult proposition faces the new ECB president – monetary union remains incomplete, the bank lacks room to manoeuvre in applying new tools, and it is not yet clear what constitutes the new economic ‘normal’.
In this episode of ‘The Sound of Economics’ Bruegel director Guntram Wolff addresses deputy

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Director’s Cut: ECB monetary policy decisions deconstructed

June 27, 2019

In this Director’s Cut, Bruegel’s Grégory Claeys and Maria Demertzis take a deeper look at whether the monetary policy decisions made by the ECB over the past three presidential eras arrived by consensus, by unanimity or by majority votes of the governing council.
By:
The Sound of Economics
Date: June 27, 2019
Topic: European Macroeconomics & Governance

The next president of the ECB, much like his predecessors, will have the difficult task of dealing with the balance between speaking with one voice and making timely, optimal decisions for the euro area as a whole.
In this episode of ‘The Sound of Economics’, Bruegel deputy director Maria Demertzis speaks with Bruegel research fellow Grégory Claeys about the evolution of

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Deep Focus: Making a success of EU cohesion policy

June 20, 2019

Bruegel senior fellow Zsolt Darvas talks to Sean Gibson in this Deep Focus podcast about how the EU can improve its cohesion policy, citing the best examples of its implementation and stressing the methodological difficulties in measuring its effectiveness.
By:
The Sound of Economics
Date: June 20, 2019
Topic: European Macroeconomics & Governance

Cohesion policy remains a contentious topic in the EU, central as it is to the matter of convergence between regions. The need to share economic growth throughout the bloc is particularly acute in the wake of notable electoral advances from several more populist political parties in Europe in recent years.
Bruegel senior fellow Zsolt Darvas explains how his recent study, co-written

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Director’s Cut: A strategic agenda for the incoming EU presidents

June 12, 2019

In this Director’s Cut of ‘The Sound of Economics’, Bruegel’s Guntram Wolff and Maria Demertzis talk through their memo to the new presidents of the European Commission, Council and Parliament, outlining the specific measures that should be implemented in order to tackle the most formidable challenges arising in the next five years.
By:
The Sound of Economics
Date: June 12, 2019
Topic: European Macroeconomics & Governance

The next presidents of the European Commission, Council and Parliament will inherit a relatively healthy European economy, but will face three formidable challenges in the next five years.
First, the incoming presidents must define Europe’s place in an increasingly bipolar world driven by a geostrategic

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Backstage: Making the most of climate modelling

June 6, 2019

Bruegel senior fellow Georg Zachmann interviews Massimo Tavoni, professor at the Politecnico di Milano and director of EIEE, on the purpose of climate and energy models, what they can deliver and what are the most recent developments in their formulation.

In this episode of ‘The Sound of Economics’, Bruegel senior fellow Georg Zachmann continues the Backstage series with an interview with Massimo Tavoni, professor at the Politecnico di Milano and director of EIEE.
The discussion point is climate modelling – specifically its use and the necessity of complexity in some of its formulations.
Some climate models are very straightforward, and this allows for the building of a solid base. But interaction between complex systems requires consideration of a multitude of factors, not all of

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Deep Focus: Striving for research excellence with Horizon Europe

June 4, 2019

In this episode of ‘The Sound of Economics’, Reinhilde Veugelers speaks about her recent Bruegel paper, requested by the European Parliament, on using public resources to improve the EU’s potential to be a global centre of excellence for research in the next decade.
By:
The Sound of Economics
Date: June 4, 2019
Topic: European Macroeconomics & Governance

The European Union’s next framework programme for innovation and research – ‘FP9’, better known as Horizon Europe – will run from 2021 to 2027. With the rise of China as an increasingly direct competitor with the EU and the US, this will be a vital period.
Bruegel senior fellow Reinhilde Veugelers, together with Michael Baltensperger, has produced an analysis for the European

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Backstage: Ukraine’s economic and political outlook

May 31, 2019

In this episode of ‘The Sound of Economics’, Giuseppe Porcaro hosts Hlib Vyshlinsky, executive director of the Centre for Economic Strategy, and Bruegel fellow Marek Dabrowski to discuss what the new Ukrainian government should do to meet the challenges facing the country’s economy.

The keyword in Ukraine right now is ‘uncertainty’, as the country prepares to elect a new parliament in July only a few months after electing a new president.
Not only will the new government have a role in stabilising and growing the economy following the 2014-15 economic crisis, but they will face the challenge of a large debt repayment during their term while dealing with an aggressive Russia.
In a political climate that is known for being corrupt and not respecting the rule of law, there are

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Director’s Cut: Reflections on the European elections

May 29, 2019

Bruegel director Guntram Wolff hosts Ferdinando Giugliano, columnist for Bloomberg and La Repubblica, and Krzysztof Blusz, political analyst and senior fellow at WiseEuropa – Centre for European Strategy, for a discussion about the results of the European elections, both across Europe and within the states of Italy and Poland.
By:
The Sound of Economics
Date: May 29, 2019
Topic: European Macroeconomics & Governance

An analysis of the results of the most recent European elections reveals what Bruegel director Guntram Wolff classifies as a generally positive trend in electoral participation across the EU, with an overall increase of 7% in voter turnout since the last elections in 2014. Additionally, populist parties in the

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Backstage: Key policy positions of the Spitzenkandidaten

May 21, 2019

Giuseppe Porcaro hosts Bruegel director Guntram Wolff and visiting fellow Rebecca Christie to reflect on the key policy positions taken by the candidates for the European Commission presidency, ahead of May’s elections.
By:
The Sound of Economics
Date: May 21, 2019
Topic: European Macroeconomics & Governance

European elections are fast approaching. With them comes not just a visit to the polls, but the beginning of a sequence involving the European Parliament and the Council that will eventually decide who becomes the next president of the Commission. The Spitzenkandidaten process sees each of the parties put forward their nominated candidate – or candidates – one of whom should eventually assume the presidency, if the

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Director’s Cut: Evolution of US-China relations amid trade-tariff conflict

May 14, 2019

Bruegel director Guntram Wolff and Bruegel fellow Uri Dadush welcome William Alan Reinsch, senior adviser and Scholl chair in international business at the Center for Strategic and International Studies, for a discussion of how China-US relations are developing in the context of unfolding trade war.

With President Trump increasing tariffs on the US’ imports from China and China retaliating in kind, the trade dispute between the two countries is escalating quickly.
Here the discussants elaborate on the disruption caused by trade tariffs, the likelihood of China acquiescing to US demands with regard to economic reform, and where the EU might figure in the stand-off.
Guntram Wolff introduces this Director’s Cut of ‘The Sound of Economics’, welcoming Bruegel fellow Uri Dadush as well as

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Deep Focus: Reforming and rejuvenating Russia’s economy

May 9, 2019

Bruegel fellow Marek Dabrowski talks to Sean Gibson about the underlying causes of Russia’s slow emergence from economic crisis, in an episode of the Deep Focus podcast series.

‘The Sound of Economics’ podcast continues with an instalment of the Deep Focus series, with Bruegel fellow Marek Dabrowski talking to Sean Gibson about the findings of his research paper on Russia’s growth problems (co-written with Antoine Mathieu Collin).
The Russian economy has weathered several crises in recent decades, most recently between 2014-16. Though this latest dip was relatively not so deep, growth has returned much more slowly this time around than in previous years.
Some problems are age-old, while others are a product of recent political movements and developments. In this episode the

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Backstage: The EU financial services landscape after Brexit

April 30, 2019

Bruegel fellows Rebecca Christie and Nicolas Véron discuss how the map of the EU’s financial services industry has begun to change, and how it might eventually settle.

The Brexit process has begun to unravel the supremacy of London as the financial centre of Europe, yet it remains unclear how the map of the EU’s financial system will eventually be refigured.
Several cities have emerged to compete not only for the business that is leaving the UK’s capital but for new investment as well. This raises broader questions about whether it is more beneficial to have a single hub or to spread financial services across numerous locations. It also poses difficulties for firms that relocate, some of whose general staff may prefer a different destination to that desired by the lawyers and

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Director’s Cut: Resuming the EU-US trade talks

April 23, 2019

Maria Demertzis sits down with Bruegel senior fellow André Sapir to break down the news, discussing the events leading up to the renewed EU-US trade talks, and the likely future course.

On 15 April 2019, the European Council approved mandates for the Commission to resume trade negotiations with the United States, which are to be centered around eliminating industrial tariffs. Although already a breakthrough, the talks are set to encounter many difficulties given their highly political nature.
Bruegel’s deputy director Maria Demertzis sits down with senior fellow André Sapir to assess the news, discussing the events leading up to the renewed talks and the likely future outcomes.
A consistent theme in the making of any EU trade deal is the repeated declaration that it would only

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Director’s cut: EU-China partnership after the 21st EU-China summit

April 12, 2019

Guntram Wolff discusses with Alicia Garcia Herrero the results of the 21st EU-China Summit

In this episode of the Director’s cut, Guntram Wolff discusses with Alicia Garcia Herrero about the results of the 21st EU-China Summit.
The EU and China committed to further strengthen the EU-China strategic partnership at the 21st EU-China summit. Both sides agreed on a joint statement setting out the direction for EU-China relations in the years to come. Leaders expressed their joint support for multilateralism and rules-based trade. They reaffirmed their joint engagement to reform the World Trade Organisation. The EU and China agreed to work together to address industrial subsidies. They also discussed foreign and security issues in their respective neighbourhoods.
Bruegel’s director and

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Director’s Cut: How to make Industry 4.0 work for Europe

April 2, 2019

Bruegel director Guntram Wolff talks to Padmashree Gehl Sampath, a Berkman Klein fellow at Harvard University, on the consequences of ‘new manufacturing’ for European industrial policymaking.

In this Director’s Cut of ‘The Sound of Economics’, Bruegel’s Guntram Wolff discusses Industry 4.0 with Harvard University Berkman Klein fellow Padmashree Gehl Sampath.
Europe is yet to truly explore what interventions can and should be made with regard to the digitisation of industrial policy. But the ongoing development of technologies obliges the EU to examine how best to create a level playing-field for companies, and how to ensure that newly compiled sets of data can contribute positively to the welfare of its citizens.
The deployment of Europe’s General Data Protection Regulation

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Director’s Cut: China’s place in the global trading system

March 28, 2019

Bruegel director Guntram Wolff and senior fellow André Sapir discuss how potential WTO reform might position the organisation differently towards China.

In this Director’s Cut of ‘The Sound of Economics’, Guntram Wolff talks to Bruegel senior fellow André Sapir about his upcoming paper on the WTO reform, specifically what is necessary in order for the Chinese economic system to be compatible with the global multilateral trading system.
China has recently been atop the European policy agenda, especially with President Xi’s recent visits to Rome and Paris ahead of the EU-China Summit in April. The discussants here walk us through the main challenges in the EU’s quest to position itself vis-à-vis China, including the issues of forced technology transfers and the behaviour of Chinese

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