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20 February 2021

Beware of vaccine elitism

What happened in Germany last week is that people started to treat vaccines as a private good. They want this one, not the other one.

12 February 2021

Le bitcoin - c'est une monnaie

Bitcoin will not replace existing money, but it will constrain the scope of governments and central banks.

07 February 2021

Show me the money

Mario Draghi constitutes an irresistible proposition for Italians. But not for long.

29 January 2021


The European Union used to do a few things well. Now it does a lot of things badly.

23 January 2021

Our worst policy error

With its disastrous vaccine procurement policy, the EU committed the ultimate mistake: it has given people a rational reason to oppose European integration.

17 January 2021

Laschet’s Germany

Europe needs a CDU leader who is not beholden to a 20th century industrial model. Armin Laschet, the new CDU chairman, is not that man.

08 January 2021

Define Strategy

Europeans often confuse strategic goals with commercial gain. Maximising your trade surplus is not a strategy.

02 January 2021

Moving On

The UK needs to move on from Brexit. But so does the EU.

19 December 2020

Why inflation will rise

Inflation forecasts won't get any better, but what will change this decade is inflation itself: a secular shift lies ahead

12 December 2020

When the moral compass malfunctions

Last week will not remembered as the great diplomatic triumph for Angela Merkel, but as the great sell-out

29 November 2020

Chained together

With variable geometry there would have been no eurozone crisis and no Brexit. The eurozone needs to integrate more, the EU less.

21 November 2020

How to face down Orban

The best way to defeat Viktor Orbán and Mateusz Morawiecki is through enhanced co-operation. Otherwise, they defeat us.

15 November 2020

Not a game

Forget about the level playing field. There are bigger issues at stake in the EU/UK relationship.

06 November 2020

What the porcupine tells us

Economic forecasts, epidemiological projections and opinion polling are wrong and biased. A bad combination.

01 November 2020

Trump's shadow

The last thing the Europeans should do after a Biden victory is trying to revert to the comforts of the old relationship.

26 October 2020

That other Hamilitonian moment

It's quite possible that Europe is celebrating the wrong Hamilton moment. The real one remains as elusive as ever.

19 October 2020

Time to pull the plug

EU-UK talks are too toxic right now. Better for UK to exit without a deal, and make a fresh start in 2021.

12 October 2020


The ECB should not reconsider its inflation target. It should reconsider inflation targeting.

04 October 2020

North versus south

The north-south divide is now the biggest threat to the EU. It's about culture more than economics.