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International Trade and Human Stupidity
In this paper, we unpack the logic—and the unintended fallout—of the Trump administration’s tariff strategy. We present our analysis as an imagined conversation between President Trump and the late historian Carlo M. Cipolla. A paper by Marco Buti an...
A Good Restart
While the proof of the pudding will be, as always, in the eating, the UK-EU 19 May Summit can justly be said to have laid out an enticing menu. A commentary by Sir Alan Dashwood
Who’s to Blame for the EU’s “Internal Tariffs”?
In response to US protectionism, many governments decry fragmentation in the European market — barriers they themselves enforce. A commentary by Lorenzo Bini Smaghi
Poland’s Presidential Election Reveals Deep Divisions with European and Global Implications
A political deadlock between a pro-European government and a euroskeptic president could weaken the country's standing within the EU and undermine the European response to Russia’s invasion of Ukraine. A commentary by Catherine De Vries
On the Amato et al. proposal for a European Debt Agency: a preliminary legal analysis
A preliminary legal analysis of the proposal for a European Debt Agency (EDA). EDA represents a ground-breaking initiative to address the complex challenges of sovereign debt management within the European Union. A Working Paper by Rosalba Famà...
Market Making as Crisis Management: A History of the 1985 White Paper
At the Castello Sforzesco, in the 1985 meeting, the European Council agreed with the Commission’s conclusion that an internal market could provide the economic and social “crisis management” the Community needed and secure its global economic competi...
1985: Sign of the Times
At the June 1985 European Council meeting, in Milan, the diverging views about the future of Europe – its identity as a common trading area or as a more cohesive bloc – were bound to clash strongly, given the fact that the meeting was intended to con...
The purpose of Eurobonds
Eurobonds can be issued to provide new resources or to become the safe asset for the European financial market, not both. A commentary by Lorenzo Bini Smaghi
The Challenges of the Future Cannot Be Met by Any One Country Alone
Forty years ago, Milan hosted the pivotal 1985 European Council where, for the first time, a vote was called — breaking with tradition and setting Europe on a new course. By Catherine De Vries
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