# Publications

How has the macroeconomic imbalances procedure worked in practice to improve the resilience of the euro area?

This paper shows how the Macroeconomic Imbalances Procedure (MIP) could be streamlined and its underlying conceptual framework clarified. Implementation of the country-specific recommendations is low; their internal cons...

24th March 2020 by Agnes Bénassy-Quéré, Guntram Wolff 96 views

# Publications

An effective economic response to the Coronavirus in Europe

The COVID-19 pandemic represents a major shock to the global and European economy. Most European countries need to take bold quarantine and lock-down measures, as has been done in Italy, to prevent an explosion of the ep...

12th March 2020 by MARIA DEMERTZIS, ANDRÉ SAPIR, SIMONE TAGLIAPIETRA AND GUNTRAM B. WOLFF 157 views

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# Publications

From climate change to cyber-attacks: incipient financial-stability risks for the euro area

The European Central Bank’s November 2019 Financial Stability Review highlighted the risks to growth in an environment of global uncertainty. On the whole, the ECB report is comprehensive and covers the main risks to eur...

7th February 2020 by ZSOLT DARVAS, MARTA DOMÍNGUEZ-JIMÉNEZ AND GUNTRAM B. WOLFF 233 views

# Publications

Hybrid and cybersecurity threats and the European Union’s financial system

This policy contribution (pdf) was written for and presented at the informal meeting of EU finance ministers and central bank governors (Informal ECOFIN) in Helsinki, 13 September 2019. Increasing cyber and hybrid risks...

15th September 2019 by Maria Demertzis, Guntram Wolff 424 views

# Publications

Braver, greener, fairer: Memos to the EU leadership 2019-2024

This collected volume, edited by Maria Demertzis and myself, focuses on the most important economic questions at EU level. The memos covering 16 different files and written by 21 Bruegel scholars, are intended to present...

10th September 2019 by Maria Demertzis, Guntram Wolff (editors) 598 views

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# Publications

Redefining Europe’s economic sovereignty

Our latest policy contribution co-authored by a team of ECFR and Bruegel scholars is here. Executive summary: Europeans like to believe the European Union has the collective economic size and capacity to determine its ow...

25th June 2019 by Mark Leonard, Jean Pisani-Ferry, Elina Ribakova, Jeremy Shapiro, Guntram Wolff 610 views

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# Publications

A strategic agenda for the new EU leadership

Memo to the presidents of the European Commission, Council and Parliament. The next presidents of the European Commission, Council and Parliament will inherit a relatively healthy European economy, but will face three fo...

14th June 2019 by Maria Demertzis, André Sapir, Guntram Wolff 673 views

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# Publications

What drives national implementation of EU policy recommendations?

We use a newly-compiled dataset to investigate whether and why European Union countries implement the economic policy recommendations they receive from the EU. We find that implementation rates are modest and have worsen...

25th April 2019 by KONSTANTINOS EFSTATHIOU AND GUNTRAM B. WOLFF 727 views

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# Publications

Promoting sustainable and inclusive growth and convergence in the European Union

This Policy Contribution was written for the Informal ECOFIN Meeting, Bucharest, 5 April 2019. The authors look at the EU’s economic agenda, discussing the priorities for the next five years. It can be downloaded HERE. M...

5th April 2019 by Maria Demertzis, André Sapir, Guntram Wolff 1176 views

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# Publications

The European Union’s response to the trade crisis

The global trading system, a source of prosperity, is under attack on various fronts. The causes run deep and require a strategic response from the European Union and from the main trading nations. The future of the syst...

15th March 2019 by Uri Dadush, Guntram Wolff 758 views