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Tag Archives: Global Economics & Governance

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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Toward a smart Indian response to China

Rather than risking its soldiers' lives on the border, India should join 'middle power' economic coalitions to address China's behavior. This piece was originally published in Asia Times. The Indian government is under massive pressure to retaliate economically for the deaths of Indian soldiers in a border clash with China. While some bilateral measures may be unavoidable, India’s long-term interest is to join coalitions of countries addressing specific aspects of Chinese economic...

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Political Assessment of Possible Reactions of EU Main Trading Partners to EU Border Carbon Measures

This briefing was prepared for the European Parliament’s Committee on International Trade (INTA). This briefing was prepared for the European Parliament’s Committee on International Trade (INTA), as one of four complementary briefings on carbon border adjustment mechanisms. All four briefings are available on the European Parliament’s online database, ‘ThinkTank‘. Copyright remains with the European Parliament at all times.  This briefing discusses the possible reactions of the European...

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Reopening: Europe

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...

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

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...

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Is the COVID-19 crisis an opportunity to boost the euro as a global currency?

The euro never challenged the US dollar, and its international status declined with the euro crisis. Faced with a US administration willing to use its hegemonic currency to extend its domestic policies beyond its borders, Europe is reflecting on how to promote it currency on the global stage to ensure its autonomy. But promoting a more prominent role for the euro is difficult and involves far-reaching changes to the fabric of the monetary union. This note was prepared at the request and...

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Covid-19 and emerging economies: What to expect in the short- and medium-term

This article was originally published in the Observer Research Foundation. As Brazil, Russia, India and Mexico record the fast spread of the Covid-19 contagion, a third wave of the pandemic is reaching the emerging world. As a result, business sentiment has decreased in March and April in the region. What’s more, as emerging economies gradually […] As Brazil, Russia, India and Mexico record the fast spread of the Covid-19 contagion, a third wave of the pandemic is reaching the emerging...

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COVID-19’s shock for emerging economies

COVID-19 is by far the biggest challenge policymakers in emerging economies have had to deal with in recent history. The pandemic is hurting emerging economies in at least three ways: by locking down their populations, damaging their export earnings and deterring foreign capital. Even if the pandemic will fade in the second half of the year, gdp in developing countries, measured at purchasing-power parity, will be 6.6% smaller in 2020 than the IMF had forecast in October. In this episode we...

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COVID-19’s reality shock for external-funding dependent emerging economies

COVID-19 is by far the biggest challenge policymakers in emerging economies have had to deal with in recent history. Beyond the potentially large negative impact on these countries’ fiscal accounts, and the related solvency issues, worsening conditions for these countries’ external funding are a major challenge. COVID-19 has brought to light a reality that had been mostly forgotten in an era of ample dollar liquidity: the excessive dependence of emerging economies on external financing. The...

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COVID-19 and India: economic impact and response

This piece was published the day before India imposed one of the world's strictest lockdowns in its response to the COVID-19 response. It remains relevant in assessing the government's actions in the ten weeks that have since passed. A group has been convened under the leadership of the Finance Minister to coordinate the government’s response to the economic and financial consequences for India of the COVID-19 virus. Some of these consequences are already evident; others will follow....

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