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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

Sizing up the world’s largest trade deal

16 days ago

What should be Europe’s strategy towards the Regional Comprehensive Economic Partnership (RCEP)?
On November 15 2020, the 10 members of the Association of Southeast Asian Nations (ASEAN), Australia, China, Japan, New Zealand and South Korea signed the Regional Comprehensive Economic Partnership (RCEP), creating the world’s largest free-trade bloc in terms of gross domestic product.
Bruegel fellows from around the world – Uri Dadush, based in Washington DC; Alicía Garcia-Herrero based in Hong Kong and Suman Bery based in India, bring their knowledge and geopolitical expertise to a heated discussion on this deal, hosted by director Guntram Wolff. What is the RCEP really about? Who will benefit? Why did India withdraw from negotiations on the deal? What implications will it have for Europe

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The big brother is back?

21 days ago

With the Biden administration, there might be a difference in style, rather than a difference in trends.

Following the election of Europe’s ‘preferred’ candidate to the US presidency, what will the transatlantic relationship look like? Would it be a big relief, or nothing much will change? And will we see a shift from ‘America first’ to ‘buy American’?
This week Bruegel director Guntram Wolff is joined by Esther de Lange MEP, Vice Chair of the European People’s Party Group, to talk us through what this all means for Europe, and more importantly for its place in the world. What next for European strategic autonomy? How will this affect climate policies? How can the EU level the playing field while not getting squeezed by the US and China?
With Mrs de Lange’s experience within the

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A European common tax space

November 3, 2020

‘One of the obvious measures Europe could do in order to fill public coffers is to make sure that everybody pays fairly what they are supposed to pay, rather than general tax increases.’
By:
The Sound of Economics
Date: November 3, 2020
Topic: European Macroeconomics & Governance

Taxation is one of the few areas of financial policy which the general public has great interest in, as it affects their everyday life directly. But when we talk about it on a European level, it has much to do with tax distortion and competition in the single market.
In this episode of The Sound of Economics, Bruegel director Guntram Wolff is joined by Sven Giegold MEP from the European Green Party. Giegold envisions a European common tax space, where minimum tax rates will be applied on a European

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A tale of two presidencies

October 28, 2020

With the US presidential elections around the corner we asked ourselves: what would a Biden administration look like? And what would a(nother) Trump administration look like?

Born and bred in the United States, Bruegel scholars Rebecca Christie and J. Scott Marcus are joined by director Guntram Wolff, on a special edition of The Sound of Economics, to talk about the upcoming US election, the implications it will have for American and European Economic policies, as well as the impact on future transatlantic relations.
Rebecca and Scott will walk us through the most crucial domestic topics, from voter suppression to shrinking republican demographic, from the covid-19 pandemic to US healthcare system. On international issues, they look at the approaches the two administrations will likely

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Demography and globalisation: reversing trends

October 21, 2020

A conversation on ageing societies, waning inequality, as well as an inflation revival.

In this episode of The Sound of Economics, we invite Charles Goodhart and Manoj Pradhan to talk about their most recent book: ‘The Great Demographic Reversal’. They argue that trends in demography and globalisation, especially the stunning rise of China combining both, have greatly weakened labour bargaining power and led to subsequent disinflation, inequality and falling interest rates. But just as these demographic and globalisation trends are now reversing, labour bargaining power will rise again, bringing with it more inflation, less inequality and rising interest rates. The coronavirus pandemic will only accelerate this reversal.
Bruegel scholars Maria Demertzis and Guntram Wolff join the authors

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The future of EU-UK relations (again!)

October 13, 2020

At the eleventh hour of negotiations, what will the future of the EU-UK relationship look like?
By:
The Sound of Economics
Date: October 13, 2020
Topic: European Macroeconomics & Governance

On 15-16 October the European Council will take stock of the implementation of the withdrawal agreement and review the state of the negotiations on the future EU-UK partnership. Leaders will discuss preparatory work for all scenarios after 1 January 2021. The timetable is very tight, with October seen as the last deadline for reaching an agreement that could then be ratified in time for entry into force by the end of the current transition period.
In this live recording session of The Sound of Economics, Bruegel’s scholars took a step back and provided the background, as well as outline the

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Without good governance EU recovery could fail

October 7, 2020

Guntram Wolff and Luis Garicano discuss how to ensure that the EU borrowing mechanism would successfully boost economic recovery.
By:
The Sound of Economics
Date: October 7, 2020
Topic: European Macroeconomics & Governance

The European Union recovery fund could greatly increase the stability of the bloc and its monetary union. But the fund needs clearer objectives, sustainable growth criteria and close monitoring so that spending achieves its goals and is free of corruption. In finalising the fund, the EU should take the time to design a strong governance mechanism.
In this episode, Guntram Wolff, director of Bruegel, is joined by MEP Luis Garicano, vice president of Renew Europe, who is also an economist and was heavily involved in the discussion on Next Generation EU, the

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The Future of Globalisation

September 30, 2020

Dani Rodrik explains the globalisation paradox.

In this episode, we propose a full lecture about the future of globalisation by Dani Rodrik, Professor of International Political Economy, at the John F. Kennedy School of Government, of Harvard University.
Rodrik argues that the model of hyper globalization we have been pursuing is unsustainable and that we have an opportunity to embark on a sounder, healthier globalisation. And he outlines his views on what such a globalisation might look like.
The Lecture took place during the Bruegel Annual Meetings and it was followed by a lively discussion between Dani Rodrik and André Sapir, who is a Senior Fellow at Bruegel, which we have recorded and included in this podcast.

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Global Energy Fundamentals

September 23, 2020

Bruegel research fellow Simone Tagliapietra discusses his new book, Global Energy Fundamentals.

As we move away from fossil fuels and toward clean energy solutions, the complexity of the global energy system has increased. With his new book published by Cambridge University Press, Global Energy Fundamentals, Simone Tagliapietra cuts through this complexity with a multidisciplinary perspective of the system, which encompasses economics, geopolitics, and basic technology.
In this episode of Th Sound of Economics Guntram Wolff, director of Bruegel, discusses with the author the current status and future prospects of the global energy system.

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For a better, more sovereign Europe

September 9, 2020

Keynote address by the German Federal Minister of Finance Olaf Scholz at Bruegel Annual Meetings, 3 September 2020
By:
The Sound of Economics
Date: September 9, 2020
Topic: European Macroeconomics & Governance

Keynote address by the German Federal Minister of Finance Olaf Scholz at Bruegel Annual Meetings, 3 September 2020.
This is part of a special feature of the Sound of Economics reporting highlights from Bruegel Annual Meetings, which happened between 1 and 3 September 2020.
Usually physically gathering hundreds of people in Brussels every year, the Annual Meetings are the flagship event of Bruegel. This year, due to the pandemic, we held the event entirely online.
For this episode of the Sound of Economics we report the full speech delivered on 3 September by the Minister

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REOPENING EUROPE – Reopening Future?

August 19, 2020

Imagining a society, an economy and politics cohabiting with the virus and eventually overcoming it.
By:
The Sound of Economics
Date: August 19, 2020
Topic: European Macroeconomics & Governance

This is the last episode of the summer feature of the Sound of Economics recorded as part of the Reopening Europe project.
Between the 12th and the 27th of June, we traveled over 2700 kilometres through the Netherlands, Germany, France, Austria, Slovenia and Italy to collect voices from the ground during the weeks when the borders were reopening after the COVID-19 spring lockdown.
Since the start of summer, the pandemic has continued to ravage the globe, and in Europe we are currently seeing a resurgence of infections. The next few months continue to be uncertain in terms of medical and

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REOPENING EUROPE – Reopening Common Good?

August 12, 2020

What should be the ground rules to support more sustainable business in a post-pandemic world?
By:
The Sound of Economics
Date: August 12, 2020
Topic: European Macroeconomics & Governance

For the fourth episode of this summer series of The Sound of Economics, recorded on the road as part of the Reopening Europe project, we talk with Antje von Dewitz, CEO of the outdoor equipment company- Vaude. We met her on June 17th in Tettnang, near Lake Konstanz, on the German/Swiss border, where her family company is located.
The Reopening Europe team was the first external visitor’s group to be admitted at the company headquarters after lockdown. Antje told Giuseppe about the effect of COVID-19 on her company, on retailers and consumer behaviour, and she told us of her vision for a

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REOPENING EUROPE – Reopening Tourism?

August 5, 2020

In this episode we unpack some reflections about tourism we have collected during the Reopening Europe journey.
By:
The Sound of Economics
Date: August 5, 2020
Topic: European Macroeconomics & Governance

The OECD has estimated that COVID-19 will cause a 60% decline in international tourism in 2020. This could rise to 80% if recovery is delayed until December.
During their trip, the Reopening Europe team noticed the direct impact of the lockdown on cities such as Strasbourg or Salzburg, which were practically devoid of the usual tourist crowds.
In this latest installment of our summer series on Reopening Europe’s trip across Europe at a unique moment, Giuseppe is in conversation with Ivo Tarantino, Head of Public Affairs & Media Relations at Altroconsumo, the largest

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REOPENING EUROPE – Reopening Borders?

July 29, 2020

In June 2020, as Europe reopened after lockdown, we crossed ten national borders. We listened to diverse citizens, from passers-by to politicians, business people to artists, recording, documenting, and publishing stories.
By:
The Sound of Economics
Date: July 29, 2020
Topic: European Macroeconomics & Governance

In this second episode of Reopening Europe, we unpack some reflections about borders and the pandemic which we have collected along our journey.
Giuseppe Porcaro is joined in by Martina Tazzioli, Lecturer in Politics and Technology at Goldsmith University, London. Her work is characterised by an interdisciplinary approach to political theory, migration and border studies and political geography. Recently, she has investigated the technologisation of the borders and how

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REOPENING EUROPE – Reopening Governance?

July 23, 2020

This is a summer feature of the Sound of Economics in cooperation with the Reopening Europe project.
By:
The Sound of Economics
Date: July 23, 2020
Topic: European Macroeconomics & Governance

In June 2020, as Europe exited the COVID-19 Lockdown, we traveled more than 2700 kilometres through the Netherlands, Germany, France, Austria, Slovenia and Italy to collect voices from the ground as the borders were reopening.
In this introductory episode, Giuseppe Porcaro chats with Michael Leigh. Their conversation was recorded in Florence on the 23rd of June. Michael is a Bruegel Senior Fellow and also Academic Director of the Masters in European Public Policy at the John Hopkins University in Bologna.
Michael told him about his experience locally in Bologna and they discussed the

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The benefits of the single market – the case of last enlargement

July 15, 2020

As the Brexit negotiations are entering their final straight line, the question of trade agreements is heating up. Economists talk about the “cost of non Europe”. How much each country has gained from belonging to the EU’s single market? How much would it have missed out on if it didn’t belong to the single market? […]
By:
The Sound of Economics
Date: July 15, 2020
Topic: European Macroeconomics & Governance

As the Brexit negotiations are entering their final straight line, the question of trade agreements is heating up. Economists talk about the “cost of non Europe”. How much each country has gained from belonging to the EU’s single market? How much would it have missed out on if it didn’t belong to the single market?
In this week’s episode, we will look at the economic

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Apps without borders? How COVID-19 apps show the limits of the EU digital single market

July 9, 2020

In their toolkit against a pandemic that knows no borders, several EU countries have bet on new technology from our era of globalisation: digital contact tracing COVID-19 apps. But the way they’ve been rolled out illustrate troublesome limits to the EU digital single market.
By:
The Sound of Economics
Date: July 9, 2020
Topic: European Macroeconomics & Governance

Episode guests:Scott Marcus, Senior Fellow, BruegelNiclas Poitiers, Research Fellow, Bruegel
Hosted by:Solenn Honorine, Media Mangager, Bruegel

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Financial fragility after #COVID19

July 2, 2020

Before the pandemic hit, a substantial share of households reported that they would be unable to handle a financial emergency. In some EU countries, many had savings equivalent to just a few weeks of basic consumption.
By:
The Sound of Economics
Date: July 2, 2020
Topic: European Macroeconomics & Governance

In this episode we discuss financial fragility in European households in the time of COVID-19.

Before the pandemic hit, a substantial share of households reported that they would be unable to handle a financial emergency. In some EU countries, many had savings equivalent to just a few weeks of basic consumption.

Giuseppe is joined by Maria Demertzis, deputy director at Bruegel, and Anna Maria Lusardi, Academic Director of the George Washington University Global Financial

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One rule to ring them all? Europe’s financial markets after Brexit

June 26, 2020

By:
The Sound of Economics
Date: June 26, 2020
Topic: European Macroeconomics & Governance

The response to COVID crisis necessitates a lot of cash. So will the upcoming green transition.

But with Brexit, Europe lost its easy and practical access to the world’s largest financial market. So is today the right time to create a European capital markets union, with only one rule to ring them all; one rule to bind all 27 capital markets in the EU?
Episode guests:Rebecca Christie, Visiting fellow, BruegelThomas Wieser, Non-resident fellow, Bruegel
Hosted by:Solenn Honorine, Media Manager, Bruegel

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Redefining Europe’s role after the Covid-19 Pandemic

June 25, 2020

By:
The Sound of Economics
Date: June 25, 2020
Topic: European Macroeconomics & Governance

In a special live edition podcast of an event we organised recently with EU3D, we discuss how the current situation brought upon by the pandemic could shift the ‘Conference on the Future of Europe’ debate, whether EU treaty changes are back on on the agenda and what this would imply for the relation of the EU with its closely affiliated non-members.
The response to the pandemic throws the future of Europe into sharp relief. How might the future of Europe conference change the dynamic and is treat change on the cards?
Episode guests:Gabriele Bischoff, Member of the European Parliament for GermanyJohn Erik Fossum, Professor at the ARENA Centre for European Studies, University of

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Reopening: Europe

June 11, 2020

This episode provides a background overview of the impact of the reopening of borders on European value chains, future of work, and innovation.
By:
The Sound of Economics
Date: June 11, 2020
Topic: European Macroeconomics & Governance

Since the end of May and throughout the month of June, many European countries have lifted or loosened lockdown measures set in place to fight the spread of the coronavirus.
One of the last measures still in place is the closure of international borders, which to some extent brought back to the memory a closed Europe, and border checkpoints, which many of our listeners that born after 1989 probably never experienced, at least on the scale we have had. As this is somewhat an atypical and historical moment, we are going to embark in a peculiar

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Will COVID-19 boost the euro as a global currency?

June 8, 2020

The euro is, by definition an international currency. However, since being established in the late 90s the single currency has always been somewhat less than the sum of it’s parts and has yet to challenge the US dollar for global dominance. Its international status declined with the euro crisis of 2008. 
By:
The Sound of Economics
Date: June 8, 2020
Topic: European Macroeconomics & Governance

Could the reform of the institutional setup of the monetary union that many are arguing for in the wake of the covid-19 crisis boost the euro’s status as a global currency?
Episode guests:Guntram Wolff, Bruegel DirectorAlicia Garcia Herrero, senior fellow at BruegelGrégory Claeys, senior fellow at Bruegel
Hosted by:Giuseppe Porcaro, head of outreach and governance at Bruegel

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China’s financial system: opening up and system risk

May 22, 2020

China is opening up its financial sector- What does that mean for China and the world?
China’s financial sector has grown massively in size and has become systemically important. In addition, it has also become much more complex with increasing systemic risk. The cyclical -beyond the structural – deceleration that the Chinese economy is undergoing is one of the key risks that the Chinese financial system is facing. At the same time, China has decided to open up its financial sector to foreign competition. What can foreign banks expect to find? Should they grab this opportunity? Giuseppe Pocarro is joined by independent economist Gary Liu and Bruegel Senior Fellow, Alicia García-Herrero.

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Singapore’s experience in dealing with COVID-19

May 19, 2020

A conversation with Dr. Vivian Balakrishnan, Minister for Foreign Affairs of Singapore, on how this city-state has tackled the coronavirus.

Faced with the COVID-19 outbreak, governments have needed to act swiftly to combat the virus. Many countries currently have lockdown or measures alike in place. Yet, different countries approach the crisis in a noticeably different way.
Dr. Vivian Balakrishnan, Minister for Foreign Affairs of the Republic of Singapore, join this live podcast recording and explain Singapore’s approach and the various measures taken in dealing with the COVID-19 pandemic.

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Mapping out the post COVID-19 recovery

May 15, 2020

COVID-19 has triggered a severe recession and policymakers in European Union countries are providing generous, largely indiscriminate, support to companies. As the recession gets deeper, a more comprehensive strategy is needed. This should be based on four principles: viability of supported entities, fairness, achieving societal goals, and giving society a share in future profits. The effort should be structured around equity and recovery funds with borrowing at EU level.
By:
The Sound of Economics
Date: May 15, 2020
Topic: European Macroeconomics & Governance

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China’s economy after COVID-19

May 6, 2020

The first country to be hit by the current pandemic, China has been at the forefront of the fight against COVID-19. What have been its impacts on the Chinese economy? What does it represent, more broadly, to the global economy? Are global supply chains really starting to be put into question? Today, Giuseppe Porcaro is joined by Alicia García-Herrero and Yiping Huang, Professor of Economics and Finance at the Peking University.

By:
The Sound of Economics
Date: May 6, 2020
Topic: Global Economics & Governance

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An analysis of the German Constitutional Court’s ruling on the ECB QE programme

May 5, 2020

The German Constitutional called today on the ECB to justify its bond-buying program. What does today’s ruling of the German Constitutional Court mean for the ECB’s QE program? Could such a decision open a precedent when it comes to contesting EU law? Today, Giuseppe Porcaro and Guntram Wolff are joined by Franz Mayer, chair of Public Law at the University of Belefield, to analyse the German Constitutional Court’s ruling.

By:
The Sound of Economics
Date: May 5, 2020
Topic: European Macroeconomics & Governance

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The impact of Covid-19 on emerging markets with Barry Eichengreen

April 29, 2020

Without a robust healthcare system and lack of medical equipment, emerging market economies are vulnerable to the current COVID-19 pandemic. How can developed countries help tackle the issue? Is international cooperation more needed than ever? This week, Giuseppe Porcaro and Guntram Wolff are joined by Barry Eichengreen to discuss the impact of COVID-19 on emerging markets.

Republishing and referencing
Bruegel considers itself a public good and takes no institutional standpoint. Anyone is free to republish and/or quote this post without prior consent. Please provide a full reference, clearly stating Bruegel and the relevant author as the source, and include a prominent hyperlink to the original post.

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Post-Council commentary

April 24, 2020

On April 23, EU leaders met virtually to try to come to an agreement for a common European response to the COVID-19 pandemic. What were the measures taken? Will they be sufficient? Did Europe come together for a coordinated response to the crisis? Or did the meeting further highlight the cracks between member states? This week, Guntram Wolff and Giuseppe Porcaro are joined by Maria Demertzis and André Sapir to comment on the EU Council meeting.

By:
The Sound of Economics
Date: April 24, 2020
Topic: European Macroeconomics & Governance

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Exiting the great lockdown?

April 17, 2020

Are we going to exit from the containment measures for the COVID-19 pandemic in the European Union? When? How?
By:
The Sound of Economics
Date: April 17, 2020
Topic: European Macroeconomics & Governance

In this episode of The Sound of Economics Live, we discuss European coordination, national responses, and local effects in moving on the next phase of containment of the COVID-19 pandemic
Maria Demertzis, Deputy DirectorThomas Hale, Associate Professor in Global Public Policy, Blavatnik School of Government; Fellow of St Antony’s College, University of OxfordJean Pisani-Ferry, Senior FellowGiuseppe Porcaro, Head of Outreach and Governance

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