The inability of Germany to create a decent private pension product for the masses is mind-blowing.
In the 2000s, *maybe* we didn't know how, not enough precedents. But now? Literally next door. 🇳🇱🇸🇪
Industrial accelerator act delayed…until March. Rejected by 9 DGs and von der Leyen
💪 One million Europeans work in clean tech jobs. That is 2 jobs per 1,000 people and twice the level of 2010.
But clean tech employment varies across countries - Lithuania leads with 5.4 jobs per 1,000 people.
Find out more in our European Clean Tech Tracker (link in the comments).
🏭 ‘Made with Europe’ not ‘Made in Europe’ should guide EU industrial policy
💡 Read the First Glance by Ignacio García Bercero,
@bmcwilliams.bsky.social, @niclaspoitiers.bsky.social and @tagliapietra.bsky.social
🔗 www.bruegel.org/first-glance...
#EconSky
Today's Eurobarometer survey is a touch gloomy, but the kids are alright
72% are worried about wars, 69% disinformation, 68% hate speech
While 52% are pessimistic about the world's future, 80% of 15-30 yr olds are optimistic about their future, 65% about the EU, 50% the world
This time, Europe’s leaders played the EU-US trade game well.
From the Franco-German tough line to Meloni’s off-ramps, backed by a credible €93bn retaliation threat, they made escalation for Trump costly, and de-escalation easy.
Markets and US politics did the rest — Rutte scoring on the assist.
I think deterrence... worked. Europe's response was actually strong. They sent forces to Denmark, they threatened to retaliate with tariffs, they talked about selling US debt, they made markets nervous and it looked like Trump TACO'd... for now.
European GDP in current USD has just gone up 1%.
1% GDP growth in just 24 hours, who needs Mario Draghi?
The unfortunate consequence of tariffs and the uncertainty they create is that Transatlantic trade is slowly disappearing.
For clean tech products, EU - US exports have fallen by two-thirds this year while imports from the US are down by a half.
european-clean-tech-tracker.bruegel.org/s/vREcWw
#BREAKING Trump threatens 200% tariffs on French wine and Champagne over France's intentions to decline invitation to join his Board of Peace
@afp.com
The decline of child mortality, in one picture—
Some weeks ago, our colleague @bastianherre.bsky.social went to El Escorial, a royal palace near Madrid. Many of the Spanish kings are buried there, along with their family members.
You can discuss many aspects of this data, you may find a different measure that leads to a (slightly) different conclusion. But German negativity is extremely excessive. So the next time when you are confronted with typical German pessimism, use these facts to counter the narrative.
A few quick thoughts about this morning's decision. Don't believe the spin from various Russians & others: it's a big deal. The EU has now unambiguously demonstrated that it is able and willing to provide the external financial support Ukraine needs, for as long and as much as it takes. (1/N)
Most important is that Ukraine gets the money. Huge deal for EU:
1) if you want to do EU foreign policy, you need EU resources and debt. #EUCO delivered
2) First time this EU debt was decided without unanimity as far as I can remember
www.consilium.europa.eu/media/wqmkno...
There’s gonna be a lot of hyperbolic talk about EU failing to meet the moment, yada, yada. But a 90 BILLION EU loan is a huge step for the EU and Ukraine! Europe just borrowed for war! EU crossed the joint borrowing rubicon. And they can still do the reparations loan in 2026.
Here's a quick reminder of the composition of the economy of countries that are all too often perceived as agricultural:
Italy: 65.6% services, 21.7% industry - 2% agriculture
France: 70.4% services, 17.5% industry - 1.4% agriculture
Austria: 65.3% services, 23.1% industry - 1.2% agriculture
GDP per capita has doubled in all three Baltic states since 2000—
Since 2000, GDP per capita has doubled in all three Baltic states: Estonia, Latvia, and Lithuania (where it has nearly tripled).
Is Germany again dragging its feet and undermining a "simple" solution to the Ukraine financing problem, instead pushing the ubercomplex reparations loan?
It's a tempting eurocrisis reflex that if only there were a will in Berlin, there would be a better way.
But there isn't. Here is why:
One big topic this week: the #Mercosur agreement. It would be absolutely appaling if the #EU again delayed. France should drop its absurd call for yet another delay. We have been debating this agreement for 25 years and yes, there are lot's of safeguards for special interests already.
It has become received wisdom in Brussels and Washington that there is a new “euro-sclerosis”: that the EU economy is lagging the US
This view is wrong
A little primer on the measurement of productivity – and why reports of the economic death of Europe are greatly exaggerated🧵
When we focus on the "brilliance" of unaccountable perpetrators, we are forgoing the brilliance of the young people deterred from their fields
bsky.app/profile/coho...
Germany's unlikely new China hawk - president of central bank, has found his wings. Nagel says EU should be ready to retaliate against Beijing
If retaliation is a last resort, “I would say, okay, we have to be strong and have to take a bold decision"
This was always a central flaw in the European chips policy: it chased the flashy smartphone chips whereas what Europe industry really depends on is much more mundane
European Council summits are often treated by outside observers as foreign policy-style summits, especially when issues like frozen Russian assets are discussed. But really this is like domestic legislating. There's always haggling. This is how the EU sausage gets made.
High time to get rid of the 'bazooka' framing. The ACI is not a magic weapon. It's a new procedural way of threatening retaliation and then imposing it. The effect really depends on the threats the EU is willing to make. Currently we're mainly deterring ourselves with the military analogies.
Ukraine's central bank has held the country's exchange rate relatively stable in the last year after the initial volatility caused by Russia’s full-scale invasion. But that might be about to change.
Read more: kyivindependent.com/will-ukraine...
🏠 Heat pumps are a key enabler of buildings decarbonisation. After a jump during the energy crisis, their deployment has slowed-down. Reversing this is key for climate, security and competitiveness, as Europe is a leading manufacturer of the technology. See: european-clean-tech-tracker.bruegel.org
⚡9.-Klässler:innen 2024 vs. 2018:
Mathe -24⬇️
Bio -24⬇️
Chemie -24⬇️
Physik -23⬇️
Die neuen Ergebnisse des IQB-Bildungstrends.
Ganz grob gesprochen: 9.-Klässler:innen liegen heute etwa auf Niveau der 8.-Klässler:innen noch vor 6 Jahren.
1/3
Bloomberg: EU considering forcing Chinese firms to hand over tech to European companies if they want to operate locally. as part of a legislative proposal called the Industrial Accelerator Act - expected in November
🎉 Congratulations to former Bruegel Fellow Philippe Aghion for being awarded the @riksbank.se Nobel Prize in Economic Sciences
💡 In 2009, Aghion co-authored a Policy Brief on 'No green growth without innovation', co-authored with Reinhilde Veugelers and David Hémous
🔗 buff.ly/yXNJqEg
