The inquiry into the global significance of the euro, which is the second most important currency in the international financial system after the US dollar (hereinafter, the dollar), should be treated as a priority in efforts to strengthen the EU’s strategic autonomy. The main obstacles...

The number of digital currencies has increased significantly in recent years. So-called central bank digital currencies (CBDCs), created by central banks, are at the forefront of this development. Combining the advantages of an electronic means of payment - namely the speed and efficiency of...

Der Klimawandel birgt zahlreiche Risiken für die Stabilität des Finanzsystems und für die Übertragung der Geldpolitik. Für die Europäische Zentralbank existieren ausreichende wirtschaftliche und rechtliche Gründe, um Klimarisiken und den Übergang zur Klimaneutralität stärker in die...

As diplomatic initiatives have thus far failed to achieve the objective of a complete, verifiable, and irreversible denuclearization of the Democratic People's Republic of Korea (DPRK), and given that a military solution is generally considered to be unfeasible, sanctions have become the central...

In many European countries, the number of asylum applications continues to rise, as does the appeal of right-wing populist parties. In response, initiatives such as the British government’s Rwanda Plan and the Italian government’s agreement with Albania aim to significantly reduce the number...

Russia's fullscale invasion of Ukraine since 24 February 2022 has not shaken France's security policy as fundamentally as it has Germany's. France sees its previous goals confirmed, particularly in terms of strengthening Europe's strategic sovereignty. Nevertheless, it has been adapting in many...

Since Brexit, the United Kingdom (UK) has been increasing its focus on bilateral rela­tions with EU member states, in particular in the field of foreign and security policy. One year after the end of the transition period, London has achieved its first successes: The UK has won over Germany and...

With the European Sky Shield Initiative (ESSI), Germany has made its claim as the leader in European air defence. Taking a joint approach to defence is a good step forward, but difficult to implement. Important European partners, above all France and Italy, are currently unwilling to follow...

Plurilateral initiatives are again gaining importance in climate diplomacy as a complement to multilateral efforts – not least in view of the lack of progress in implementing the Paris Agreement and more difficult conditions in the UN process. New alliances are expected to facilitate agreement...