• Roughly two thirds of the European Union's budget is financed out of member states' national tax revenues. These resources, based on gross national incomes, are transparent, fair and in line with the principle of subsidiarity but they lead to political debates that emphasise the cost of EU...

When it became clear that the COVID-19 pandemic required widespread lockdown of all but essential firms, most governments took measures to protect vulnerable workers and firms from the worst effects of the sudden drop in activity. These measures included unemployment benefits, grants, transfers,...

Europeans like to believe the European Union has the collective economic size and capacity to determine its own economic destiny. But the behaviour of others global powers is increasingly calling this ability into question. China and the United States, especially, do not separate economic...

The European Green Deal is a plan to decarbonise the EU economy by 2050, revolutionise the EU's energy system, profoundly transform the economy and inspire efforts to combat climate change. But the plan will also have profound geopolitical repercussions. The Green Deal will affect geopolitics...

The European Union's banking union project started in mid-2012 in response to the euro-area crisis, with the goal of breaking the bank-sovereign vicious circle. The objective was also to restore private liability in banking and to move towards an integrated supranational market for banking...

France's President Emmanuel Macron and Germany's Chancellor Olaf Scholz have stressed the geopolitical emergency of re-designing the European Union's relationship with its neighbourhood. Both acknowledge that EU enlargement is necessary, but also emphasise that profound EU institutional reform...

For Europe, the war in Ukraine is a first-order economic shock. While the direct fiscal implications of taking care of refugees, increasing military spending and strengthening energy autonomy remain limited, the impact of elevated energy and food prices on national income and its distribution is...