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Posts Tagged ‘Pisani-Ferry’

Europe’s New Green Identity

Posted by hkarner - 2. Januar 2020

Date: 02‑01‑2020

Source: Project Syndicate by Jean Pisani‑Ferry

Jean Pisani‑Ferry, a senior fellow at Bruegel, a Brussels‑based think tank, holds the Tommaso Padoa‑Schioppa chair at the European University Institute, and is a visiting fellow at the Peterson Institute in Washington, DC. 

The European Union has already invested so much of its political capital into the green transition that a failure to fulfill its promise to achieve climate neutrality by 2050 would severely damage its legitimacy. The Green Deal is not just one of many EU projects. It is the Union’s new defining mission.

PARIS – Most countries’ flags are multicolor. Together with red‑flagged China, the blue‑flagged European Union is one of the few monochrome entities. Not anymore, apparently: the EU’s new defining project colors it green. At a meeting in mid‑December, the leaders of all EU countries except one (Poland, not the United Kingdom) officially endorsed the goal of achieving climate neutrality – zero net emissions of greenhouse gases – by 2050.

European Commission President Ursula von der Leyen wants to go further. Next March, she plans to introduce a “climate law” to ensure that all European policies are geared toward the climate neutrality objective. She wants member states to agree next summer to cut emissions by about 50‑55% between 2017 and 2030. She also proposes to allocate half of the European Investment Bank’s funding and a quarter of the EU budget to climate‑related objectives, and to devote €100 billion ($111 billion) to supporting regions and sectors most affected by decarbonization. If non‑EU countries drag their feet, she intends to propose a carbon tariff. Den Rest des Beitrags lesen »

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The UK and the EU Should Prevent Mutual Assured Damage

Posted by hkarner - 3. Dezember 2019

Date: 02‑12‑2019

Source: Project Syndicate by Jean Pisani‑Ferry

Jean Pisani‑Ferry, a senior fellow at Bruegel, a Brussels‑based think tank, holds the Tommaso Padoa‑Schioppa chair at the European University Institute, and is a visiting fellow at the Peterson Institute in Washington, DC. 

Assuming Brexit happens, future historians will probably remember 2020 as the year when an enfeebled and vulnerable Europe chose to make itself feebler and more vulnerable. The task for its leaders now is to avoid making matters even worse.

PARIS – Nothing can be taken for granted in the United Kingdom these days, but it is now very likely that 2020 will be the year when Brexit finally happens. A majority of UK citizens will probably be relieved to bring this seemingly endless agony to a close, while most European leaders will likely be glad not to have to argue over another postponement. But questions will remain.

To the question of “Who lost Britain?”, the answer must be, first and foremost, Britain itself. Whatever mistakes the European Union’s other 27 members may have made, they cannot be held responsible for the extraordinary behavior of the UK’s three equally amateurish governments of the last five years. Den Rest des Beitrags lesen »

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The Global Economy’s Three Games

Posted by hkarner - 29. Oktober 2018

, Project Syndicate

Jean Pisani-Ferry, a professor at the Hertie School of Governance (Berlin) and Sciences Po (Paris), holds the Tommaso Padoa-Schioppa chair at the European University Institute and is a senior fellow at Bruegel, a Brussels-based think tank.

Three major players – the United States, China, and a loose coalition formed by the other members of the G7 – are shaping the future of the international economic and geopolitical order. And they are all engaged in three contests simultaneously, without knowing which one is the most important.

PARIS – Chess masters are able to play simultaneously on several boards with several partners. And the more time passes, the more US President Donald Trump’s international economic strategy looks like such a match.

There are three major players: the United States, China, and a loose coalition formed by the other members of the G7. And there are three games, each of which involves all three players. Unlike chess, however, these games are interdependent. And no one – perhaps not even Trump – knows which game will take precedence. Den Rest des Beitrags lesen »

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One Club Does Not Fit All in Europe

Posted by hkarner - 1. Oktober 2018

Jean Pisani-Ferry, a professor at the Hertie School of Governance (Berlin) and Sciences Po (Paris), holds the Tommaso Padoa-Schioppa chair at the European University Institute and is a Mercator senior fellow at Bruegel, a Brussels-based think tank.

The biggest risk for the European Union is to remain mired in outdated structures and to succumb to inertia. If it is to survive in a rapidly changing and increasingly challenging world, the EU needs a new model of European integration that abandons the principle of „ever closer union.“

PARIS – “Italy,” a contemptuous Metternich said two centuries ago as the peninsula was split into a myriad of fiefdoms, “is only a geographical expression.” Some in Beijing, Moscow, New Delhi, and even Washington regard Europe the same way. They acknowledge that the European Union matters for trade agreements and currency issues, but consider it too irresolute to be a real player in today’s global power game, and too divided to cope with security and migration challenges. Proving them wrong is the task that Europe must now tackle. Den Rest des Beitrags lesen »

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Europe Could Miss Its Opportunity for Political Realignment

Posted by hkarner - 3. September 2018

Jean Pisani-Ferry, a professor at the Hertie School of Governance (Berlin) and Sciences Po (Paris), holds the Tommaso Padoa-Schioppa chair at the European University Institute and is a Mercator senior fellow at Bruegel, a Brussels-based think tank. 

Will the continent’s voters be offered the opportunity to decide on the key challenges their societies are facing, or will tactical maneuvering obfuscate the choices and permit the continued dominance of traditional politics? The nine months between now and the election of the next European Parliament will provide the answer.

PARIS – “There are two sides at the moment in Europe. One is led by Macron, who is supporting migration. The other one is supported by countries that want to protect their borders.” This is how Hungarian Prime Minister Viktor Orbán described the European political landscape during his August meeting with the Lega party’s Matteo Salvini, the strongman in the Italian government. “If they want to see me as their main opponent, they are right,” French President Emmanuel Macron instantly replied.2

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Is Europe America’s Friend or Foe?

Posted by hkarner - 30. Juli 2018

Jean Pisani-Ferry, a professor at the Hertie School of Governance (Berlin) and Sciences Po (Paris), holds the Tommaso Padoa-Schioppa chair at the European University Institute and is a Mercator senior fellow at Bruegel, a Brussels-based think tank.

Since Donald Trump took office as US president, a new cottage industry in rational theories of his seemingly irrational behavior has developed. On one issue, however, no amount of theorizing has made sense of Trump: his treatment of America’s oldest and most reliable ally.

PARIS – Since Donald Trump became US president in January 2017, his conduct has been astonishingly erratic, but his policies have been more consistent than foreseen by most observers. Trump’s volatility has been disconcerting, but on the whole he has acted in accordance with promises made on the campaign trail and with views held long before anyone considered his election possible. Accordingly, a new cottage industry in rational theories of Trump’s seemingly irrational behavior has developed.

The latest challenge is to make sense of his stance towards Europe. At a rally on June 28, he said: “We love the countries of the European Union. But the European Union, of course, was set up to take advantage of the United States. And you know what, we can’t let that happen.” During his recent trip to the continent, he called the EU “a foe” and said it was “possibly as bad as China.” Regarding Brexit, he declared that British Prime Minister Theresa May should have “sued” the EU. Then came the truce, on July 25: Trump and Jean-Claude Juncker, the president of the European Commission, agreed to work jointly on an agenda of free trade and World Trade Organization reform. Den Rest des Beitrags lesen »

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Can Multilateralism Adapt?

Posted by hkarner - 1. Juli 2018

Jean Pisani-Ferry, a professor at the Hertie School of Governance (Berlin) and Sciences Po (Paris), holds the Tommaso Padoa-Schioppa chair at the European University Institute and is a Mercator senior fellow at Bruegel, a Brussels-based think tank.

Global governance requires rules, because flexibility and goodwill alone cannot tackle the hardest shared problems. With multilateralism under attack, the narrow path ahead is to determine, on a case-by-case basis, the minimum requirements of effective collective action, and to forge agreement on reforms that fulfill these conditions.

FLORENCE – Rewind to the late 1990s. After an eight-decade-long hiatus, the global economy was being reunified. Economic openness was the order of the day. Finance was being liberalized. The nascent Internet would soon give everyone on the planet equal access to information. To manage ever-growing interdependence, new international institutions were developed. The World Trade Organization was brought to life. A binding climate agreement, the Kyoto Protocol, had just been finalized.

The message was clear: globalization was not just about liberalizing flows of goods, services and capital but about establishing the rules and institutions required to steer markets, foster cooperation, and deliver global public goods. Den Rest des Beitrags lesen »

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The Upheaval Italy Needs

Posted by hkarner - 27. April 2018

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While Italy remains without a new government, it would be foolish to believe that a country where anti-system parties won 55% of the popular vote will continue to behave as if nothing had happened. But political upheavals sometime provide a unique opportunity for addressing seemingly intractable problems.
FLORENCE – Two months after the Italian general election on March 4, amid continuing uncertainty about what kind of government will emerge, a strange complacency seems to have set in. Yet it would be foolish to believe that a country where anti-system parties won 55% of the popular vote will continue to behave as if nothing had happened. The supposed “barbarians” are not at the gate anymore. They are inside. Den Rest des Beitrags lesen »

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The Lesser Evil for the Eurozone

Posted by hkarner - 28. März 2018

Jean Pisani-Ferry, a professor at the Hertie School of Governance (Berlin) and Sciences Po (Paris), holds the Tommaso Padoa-Schioppa chair at the European University Institute and is a Mercator senior fellow at Bruegel, a Brussels-based think tank.

For three decades, the consensus within the European Commission and the European Central Bank on the need for market reforms and sound public finances has been strong enough to overcome opposition in small countries and outlast procrastination in large ones. Today, however, the eurozone playing field has become a battleground.

PARIS – It was not supposed to happen like this. The formation of a new German government took so long that it was only after the Italian general election on March 4 resulted in a political earthquake that France and Germany started to work on reforming the eurozone. German Chancellor Angela Merkel and French President Emmanuel Macron have now resolved to sort out their differences and deliver a joint reform roadmap by July. But they cannot ignore changes brought by the landslide victory of Italy’s anti-system parties. Until then, populism had seemed contained. It has now become mainstream. Den Rest des Beitrags lesen »

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The International Economic Consequences of Mr. Trump

Posted by hkarner - 31. Januar 2018

Jean Pisani-Ferry, a professor at the Hertie School of Governance (Berlin) and Sciences Po (Paris), holds the Tommaso Padoa-Schioppa chair at the European University Institute.

What has fundamentally changed with the Trump administration is not that it behaves more selfishly than its predecessors, but that it seems unconvinced that the global system serves US strategic interests. For the rest of the world, the key question is whether the global system is resilient enough to survive its creator’s withdrawal.

PARIS – This year’s World Economic Forum in Davos proved to be yet another opportunity for US President Donald Trump’s administration to display its customary verbal incontinence and send shockwaves through the global economy. This time, there were two sources.

The first shock came from US Treasury Secretary Steven Mnuchin, who broke with more than two decades of strict discipline by suggesting that a weaker dollar would be in America’s interest. The second came from Commerce Secretary Wilbur Ross, who seemed to rejoice at the prospect of waging and winning a trade war. Den Rest des Beitrags lesen »

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