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

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...

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The impact economy: balancing profit and impact

Governments and companies can reinforce each other in their pursuit of sustainable development, which is based on three pillars: economic, social and environmental. An impact economy, in which governments and companies balance profit and impact, is best placed to achieve the United Nations sustainable development goals. How can governments and companies be jointly empowered to have a positive impact on the sustainable development goals? The current economic system is largely geared towards...

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Financial fragility after #COVID19

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...

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Europe’s China problem: investment screening and state aid

China’s state capitalist economy poses a challenge to EU openness to foreign investment. In response, the European Commission 17 June published a White Paper on “levelling the playing field with regard to state aid”, contemplating sensible and balanced policies to protect the integrity of the European single market from subsidised foreign acquisitions. However, against the backdrop of collapsing global capital flows and limited existing FDI from China, there is little risk of excessive...

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The Wirecard debacle calls for a rethink of EU, not just German, financial reporting supervision

The spectacular collapse of Wirecard AG should serve as a wake-up call for the European Union on the need to pool the relevant supervisory mandates at EU level. Wirecard AG, the Munich-based payments and financial services company that was a member of the DAX index of Germany’s 30 leading blue chip stocks, collapsed spectacularly and filed for insolvency on June 25, 2020. Among many lessons, this disaster has revealed major gaps in audit regulation and accounting enforcement in Germany and by...

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Artificial intelligence’s great impact on low and middle-skilled jobs

Artificial intelligence and machine learning will significantly transform low-skilled jobs that have not yet been negatively affected by past technological change. The academic literature suggests that, in the past decades, technological progress has led to job polarisation in European Union countries. While computer technologies and robots have replaced, to some extent, routine middle-skilled jobs such as machine operation, construction work or administrative work, they have also led to an...

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

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,...

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Redefining Europe’s role after the Covid-19 Pandemic

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...

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Should Denmark and Sweden join the banking Union?

Though outside the euro area, Denmark and Sweden could benefit from joining the European Union’s banking union. It would provide protection in case of any need to resolve at national level a large bank with a Scandinavian footprint, and would mark a choice in favour of more cross-border banking. But joining the banking union would also involve some loss of decision-making power. An important policy discussion is ongoing in Denmark and Sweden on joining the European Union’s banking union....

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A tale of two pandemics

The two narratives briefly examined here cast light on different aspects of the EU in the times of Covid-19. Euroskeptic nationalists typically propagate claims of EU failure but have been rather subdued during the pandemic as mainstream governments have taken over their trademark policy of closing borders to foreigners. Nonetheless, the grip on power of several pro-EU mainstream leaders, including President Emmanuel Macron in France, Prime Minister Conte in Italy and Prime Minister Pedro...

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