trump trade
Trump’s Trade Policy is Far More Rational Than it Looks

At an IEP Bocconi event, Lorenzo Bini Smaghi unpacks the political incentives behind the US president’s most controversial choices. A conversation with Stefano Feltri

 
trump nss
The 2025 US National Security Strategy and the Strategic Repositioning of Europe

If Europe embraces the opportunity to invest in defence and innovation, it can strengthen its position within the global order. A Policy Brief by Carlo Altomonte and Walter Rauti
cartabia cover
IEP@BU Fellow Marta Cartabia Named Among Fondation Robert Schuman’s “European Women Leading the Way”
A new report profiles 27 leaders to showcase women’s contributions to the EU and inspire the next generation of European role models 
rule based
The Crisis of Multilateralism between Hegemony and Multipolarity
Hints from History – and some for the EU. A Working Paper by Andrea Colli 
iran
External pressure and the fate of Iran’s regime
Rising domestic fury and unchecked US–Israeli pressure are pushing the Islamic Republic into uncharted territory. A commentary by Nathalie Tocci
Feasible Steps to Finance Innovation in Europe
Feasible Steps to Finance Innovation in Europe: Six Proposals to Strengthen EU Capital Markets
A report by a Reflection Group convened by the Institute for European Policymaking at Bocconi University.
romain cover
The EU Needs a Joint Environmental and Diplomatic Agenda in a World of US Retreat From Multilateralism

Every avoidable euro spent reinforcing external and fossil dependencies weakens Europe’s environmental and geopolitical resilience. A commentary by J.Christopher Proctor, and Romain Svartzman 
financial integration
The Legal and Financial Implications of the New Ukraine Loan Scheme
How the December 2025 European Council decision opens new paths for EU financial integration. A commentary by Rosalba Famà
demography germany
Germany’s Demographic Challenge and the Central Role of Migration

Migration already constitutes a structural component of Germany’s labour supply, and this role will intensify as demographic change accelerates. A commentary by Yuliya Kosyakova
veto power 2
The European Council That Quietly Ended the Era of the National Veto
The December 2025 European Council may be remembered less for the failure of Germany’s plan on Russian frozen assets than for a decisive weakening of national veto power in EU foreign policy. A commentary by Daniel Gros
 
DEFENSE EUROPE
In Defense of the Idea of Europe

If one takes the findings of the recent US National Security Strategy seriously, Europe is facing its “civilizational erasure.” That strong language demands a response. A commentary by Sylvie Goulard, and Wolfgang Ischinger

 
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On Trump’s Tariffs, Europe Got the Best Deal Available

​​Despite the 15% headline rate, the effective tariff burden on EU exports has fallen — and Europe’s import share is rebounding. A commentary by Niccolò Rotondi and Daniel Gros

 
tocci intervista
What can Europe do in a World of “Imperial Collusion”
A conversation with Nathalie Tocci, who in 2026 will become Senior Fellow at the Institute for European Policymaking at Bocconi University 
prova 3
Live Long and Prosper

Allianz and the IEP announce the publication of a new work dedicated to one of the central themes of Europe’s future: the longevity revolution and the rise of the Silver Economy, the major demographic and economic transformation that is reshaping societies, consumption patterns, and production systems.

Read the Full Report
climate regulation
EU’s Climate Leadership – Is it Time to Rethink our Policy Toolbox?

As the EU’s climate plans hit political limits, more direct industrial policies could offer a way forward. A commentary by J.Christopher Proctor, and Romain Svartzman 

IEP@BU Commentaries

greenland 2

Europe Should call Trump’s Bluff on Greenland

The tariff threat is coercion by other means — and the EU has both the moral case and the instruments to respond. A commentary by Moreno Bertoldi, and Marco Buti 
bini smaghi

When Will the US Enter Recession?

In his first term, Trump cut taxes before imposing tariffs—this sequencing helped cushion the negative impact of protectionism on US growth. A commentary by Lorenzo Bini Smaghi
Only a Revitalized Social Contract Can Curb Populism’s Rise

Only a Revitalized Social Contract Can Curb Populism’s Rise

Mainstream politicians must ensure that the state can once again be a force for good. This means investing in public service delivery, allowing houses to be built, and reducing administrative burdens. A commentary by Catherine De Vries 
bini smaghi dollar

How the Euro Could Capitalise on the Dollar’s Waning Dominance

To truly compete on the global stage, the eurozone must mutualise part of its public debt—and build a deeper, more efficient capital market. A commentary by Lorenzo Bini Smaghi. 
dollar bini smaghi 2

A Crisis of Confidence in the Dollar Threatens Global Financial Stability

A rise in US Treasury yields would immediately feed through into other countries’ borrowing costs, tightening global financial conditions. A commentary by Lorenzo Bini Smaghi
ecb angeloni 3

How Central Banks Can Minimize the Damage of Tariffs

There are immediate liquidity problems, and then the choice between lowering inflation risk or supporting the economy. A commentary by Ignazio Angeloni
le pen 2

In the Name of the French People: The European Consequences of Marine Le Pen’s Conviction

By supporting Marine Le Pen, members of the international nationalist coalition have put partisan solidarity before defending the interests of national taxpayers. A commentary by Sylvie Goulard  
powell 2

Why Trump Cannot Win Against the Federal Reserve

Replacing the Chair is not enough to change monetary policy, as Trump would like — namely, to lower interest rates to boost economic growth. A commentary by Lorenzo Bini Smaghi
gros illiteracy

European Reaction to Reciprocal Tariffs: How to Benefit from Economic Illiteracy

The advantages of the Trump administration's ‘reciprocal’ tariff structure for the EU industry on the US market are likely to outweigh the direct impact of the 20% tariff that EU exports will now face. A commentary by Daniel Gros 
directive 1

Are Climate Reporting Requirements Hurting European Competitiveness?

Weakening the EU climate corporate reporting in the name of competitiveness, or complementing it with specific measures to mitigate its negative economic impacts? A commentary by Sylvie Goulard, Mélanie Marten, Thomas Rowley, Romain Svartzman 
bini smaghi

What is the Point of Europe if it Fails to Decide?

Amid Trump’s activism, many accuse Europe of lacking timely and effective decision-making. But distinctions are necessary. A commentary by Lorenzo Bini Smaghi 
ukgraine commentary

How Europe Can Prepare for a Post-Truce Ukraine

A peace-enforcement mission, complemented by security assistance, stockpile regeneration, and a dedicated financial framework, would provide the necessary deterrence and resilience against future Russian aggression. A commentary by Andrea Gilli, Mauro Gilli, and Niccolò Petrelli
luigi mattiolo

Why Germany has Shifted its Approach to Europe

A Conversation with Ambassador Luigi Mattiolo, newly appointed as the Italian President of Villa Vigoni by Stefano Feltri 
ursula von der leyen

Europe’s Defence Awakening: A High-Stakes Balancing Act

The normalisation of war in political discourse is forcing a renegotiation of the European welfare state, a delicate balancing act that will determine whether defence budgets remain sustainable in the long run. A commentary by Stephanie Hofmann & Catherine E. De Vries 
bassini

Can EU Digital Competitiveness Survive Global Pressure?

Should China and the US – where major market players are based – manage to sideline Europe in its regulatory isolation, the EU’s influence may wane. A commentary by Marco Bassini 
regional trump

Pan-Regions and Trump’s Imperial Geography

Trump’s ambitions to extend U.S. influence over neighboring countries align with Karl Haushofer’s notorious geopolitical doctrine. A new global order is emerging, and Europe may not be part of it. A commentary by Andrea Colli 
stablel angeloni

Stablecoins and Money: Complementary, Perhaps—But Not the Same

Regulators now face a delicate balancing act: fostering innovation while preserving stability and public confidence—particularly in money as a store of value and a reliable medium of exchange. A commentary by Ignazio Angeloni
messori trump

Why Subsidising Exporters Means Bankrolling Trump’s Tax Cuts

Propping up EU firms hit by US tariffs with public funds risks taxing Europeans to subsidise American consumption and federal revenues. A commentary by Marcello Messori
trump bini

Where Europe Stands Tall: The Lesson of Aerospace in a World of US Tariffs

Europe’s exemption from US tariffs in aerospace highlights what the continent lacks elsewhere: unity, scale, and strategy. A commentary by Lorenzo Bini Smaghi.

IEP@BU Events

rare earths
Campus Life Area, mezzanine level, Via Bocconi 12, Milano
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Rare Earths & Geopolitics: Hard Choices for Europe

An event to discuss how the European Union is responding to rapidly evolving dynamics in rare earths supply chains, global trade tensions, and strategic interdependence with China and the United States. 
UNDP
Aula Manfredini
Via Sarfatti 25
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A Matter of Choice: People and Possibilities in the Age of AI

This HDR event, hosted by the United Nations Development Programme, Generali Group, and the Institute for European Policymaking @ Bocconi University, will feature a presentation of the key findings of the 2025 HDR, followed by two conversations that bring the reports messages into concrete focus: the implications of AI for gender divides and how to mitigate them. Together, these discussions will explore how choices made today can ensure that AI becomes a force for expanding human freedoms, rather than constraining them.
Padoan
Sala Lettura EGEA, v.le Bligny 22, 20122 Milano
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Si può fermare il declino dell’Europa?

Una conversazione con Pier Carlo Padoan, intervistato da Silvia Merler.
Terracciano
Sala Lettura EGEA, v.le Bligny 22, Milano
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La diplomazia può fermare le guerre?

Una conversazione con Pasquale Terracciano, intervistato da Mariangela Pira.
L'europa nelle crisi

IEP@BU Policy Briefs

EUKraine

Policy Brief n.37 - How To Defend EUkraine: What are the Military Options

European countries should plan for a Peace Enforcement mission and prepare for either Non-Combat Security Assistance and Support or for Mobile Rapid Reaction Force in order to be prepared for a “what if conflict resumes”. A Policy Brief by Andrea Gilli, Mauro Gilli, and Niccolò Petrelli
esf fund

Policy Brief n.36 - A European Security Fund for Ukraine

A coalition of most EU Member States plus the UK and Norway should create a European Security Fund to provide Ukraine with a reliable source of financing, large enough to substitute the US. A Policy Brief by Daniel Gros 
algorihmic certification

Policy Brief n.35 - Certification of Business Practices and Algorithms of Digital Platforms

Voluntary certification is a novel approach that can restrict the harmful practices of some dominant platforms and motivate and reward emerging platforms that align their practices with the public interest. A Policy Brief by Dovev Lavie, Oreste Pollicino, and Tommaso Valletti
imf policy brief

Policy Brief n.34 - The IMF and Europe under Trump II

The Trump II Administration is likely to throw a wrench in coordination across European states in nearly every forum except one: the IMF and multilateral financial institutions. A Policy Brief by Catherine De Vries, and Sienna Nordquist 
presidente

Policy Brief n.33 - The Technological Paradigm, Stupid

European policymakers keep pushing the narrative that boosting AI development is key to European competitiveness. But stakes are much higher, because super-intelligent AI will confer enormous geopolitical leverage to those who control it. A Policy Brief by Giorgio Presidente
galeone

Policy Brief n.38 - Skill Overkill: The EU Needs More Than Just More Training

While economic theory and empirical evidence on human capital affirm the positive effects of education and training on productivity and economic growth, there is a tendency to treat skills enhancement as a universal remedy for labor market inefficiencies. A Policy Brief by Pietro Galeone
evs

Policy Brief: Policy and Geopolitics in Disguise?

The EU's Anti-Subsidy Investigation Against Chinese Battery Electric Vehicle Imports Industrial Policy: A Policy Brief by Daniel Gros, and Weinian Hu
gros

Policy Brief n.41 - Increasing European Productivity, Resiliency, and Defence Production (and How to Pay for It)

To restart growth, the EU needs to focus on productivity and innovation. This does not require hundreds of billions of euros in new expenditure, but rather a sharp focus on the efficiency of existing budgets coupled with innovation-friendly rulemaking. A Policy Brief by Daniel Gros, and Jacob Funk Kirkegaard  
defense spending

Policy Brief n.42 - The European Defense Spending Trilemma

We advocate a phased, reform-oriented, and strategically coherent approach that aligns defense effectiveness with fiscal responsibility and democratic legitimacy. A Policy Brief by Andrea Gilli,and Walter Rauti 
goulard verde

Policy Brief n.43 - Green Disclosure: Red Tape or Strategic Tool?

Diluting reporting obligations risks creating uncertainty, weakening Europe’s competitive edge in green innovation, and sending conflicting signals to companies and financial institutions that have already invested heavily in compliance. A Policy Brief by Sylvie Goulard, and Keraron Aure  
aasve

Policy Brief n.44 - Demography in the new European Commission (2024 - 2029)

At the European Commission level, the diffusion of responsibility in matters of demography creates both challenges and opportunities for policymaking: while it risks fragmentation, it also opens the door to a more integrated and coordinated approach. A Policy Brief by Arnstein Assve, and Elisa Latora. 

News from IEP@BU

cartabia
IEP Bocconi Fellow Marta Cartabia Named Among Fondation Robert Schuman’s “European Women Leading the Way”

A new report profiles 27 leaders to showcase women’s contributions to the EU and inspire the next generation of European role models
live long and prosper
Allianz S.p.A. and IEP Bocconi present a new study on longevity and the Silver Economy

Allianz S.p.A. and the Institute for European Policymaking at Bocconi University announce the publication of a new study devoted to one of the key issues shaping Europe’s future: the longevity revolution and the rise of the Silver Economy, the major demographic and economic transformation that is reshaping societies, consumption patterns and production systems.
TOCCI
Nathalie Tocci joins IEP as a Senior Policy Fellow and Managing Board Member

A leading European voice on foreign, security, and defence policy joins IEP@BU as the Institute strengthens its strategic focus on geopolitics

IEP@BU Fellows

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Gaia Rubera

Gaia Rubera

Fellow
Gaia Rubera is Amplifon Chair in Customer Science and Full Professor of Marketing at Bocconi University, where she is the Head of the Marketing Depart...
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Dirk Hovy

Dirk Hovy

Fellow
Dirk is an associate professor working on natural language processing and computational social science. Previously, he was faculty and postdoc in Cope...
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Eleanor Spaventa

Eleanor Spaventa

Member of the Management Council
Eleanor Spaventa is Professor of European Union Law at Bocconi Law School, Milan (Italy). She previously worked at the law schools of Durham, Birmingh...
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Francesco Longo

Francesco Longo

Fellow
Francesco Longo holds a Degree in Economics from Università Bocconi. He is Associate Professor of Public Management at the IPAS Institute of Public Ad...
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Stefano Micossi

Stefano Micossi

Non-resident Fellow
Stefano Micossi is Advisor on strategies and policies, Assonime, a business association and think tank in Rome and Visiting Fellow at European Univers...
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Nicolò Cavalli

Nicolò Cavalli

Fellow
Nicolò Cavalli holds a MSc in Economic and Social Sciences from Bocconi University and a BA in Political Sciences from the University of Bol...
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Breschi Stefano

Stefano Breschi

Fellow
Stefano Breschi is Professor of Applied Economics and Director of the Invernizzi Center for Research on Innovation, Organization, and Strategy (ICRIOS...
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Cesare Cavallini

Cesare Cavallini

Fellow
Cesare Cavallini was born on September 16th, 1966. In 1989 I graduate from Catholic University of Milan with J.D. degree. Since September 2022 he is H...
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Giuseppe Franco Ferrari

Giuseppe Franco Ferrari

Fellow
Giuseppe Franco Ferrari is Emeritus Professor of Constitutional Law at Bocconi University. He previously taught at Università di Teramo, at Università...
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Andrea Colli

Andrea Colli

Fellow
As an historian, his research interests range from economic, business and global history subjects, included the history of international relations and...
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Francesco Decarolis

Francesco Decarolis

Fellow
Francesco Decarolis is Full Professor at the Department of Economics, Bocconi University - Milan. His area of research is Industrial Or...
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Brunella Bruno

Brunella Bruno

Fellow
Brunella Bruno is a tenured researcher in Bocconi University's Finance Department. Her primary research interest lies in empirical banking, with a foc...
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Enrico Basile

Enrico Basile

Fellow
Enrico Basile is Assistant Professor of Criminal Law and White-Collar Crime. He graduated cum laude from the Università di Messina School of Law, he w...
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Alberto Manconi

Alberto Manconi

Fellow
Alberto Manconi joined the Finance Department at Bocconi University in 2016. From 2010 to 2016, he was Assistant Professor and later Associate Profess...
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Famà Rosalba

Rosalba Famà

PostDoc Fellow
Rosalba Famà is a lawyer and holds a PhD in legal studies from Bocconi University summa cum laude (2025). She is currently a postdoctoral researcher I...
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Maria Antonia Panascì

Maria Antonia Panascì

Fellow
Maria Antonia is a Postdoctoral Researcher at Bocconi Lab for European Studies (BLEST), which she joined in 2021 with a project on the impact of Next ...
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Kerim Kavakli

Kerim Kavakli

Fellow
Kerim Kavakli is an assistant professor of Political Science at Bocconi University. He earned his PhD in Political Science from the University of Roch...
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Giuseppe Nicoletti

Giuseppe Nicoletti

Non-Resident Fellow
Giuseppe Nicoletti is currently Senior Fellow at the LUISS Lab of European Economics (LLEE), LUISS University (Rome, Italy). As an OECD consultant, he...
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Lorenzo Bini Smaghi

Lorenzo Bini Smaghi

Non-resident Fellow
Lorenzo Bini Smaghi holds a degree in Economic Sciences from the Université Catholique de Louvain (Belgium) and a Ph.D in Economic Sciences from the U...
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Giuseppe Corvino

Giuseppe Corvino

Fellow
He is a professor of financial markets and institutions at Bocconi University, where he deals with investments, insurance, and pension funds topics. H...
EPVM

A new website shows the roll-call votes in European Parliament by MEP, MEP, group, and country, going back to 2004. You can also download the data for free. By Simon Hix and Abdul Noury 
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