Project blog


When Facts Change, Change the Pact

29th April 2019
Jean Pisani-Ferry

“When facts change, I change my mind,” John Maynard Keynes famously said. With long-term interest rates currently near zero, the European Union should reform its fiscal framework to allow member states to increase their debt-financed public investments. Read more…


Europe and the New Imperialism

1st April 2019
George Papaconstantinou

For decades, Europe has served as a steward of the post-war liberal order, ensuring that economic rules are enforced and that national ambitions are subordinated to shared goals within multilateral bodies. But with the United States and China increasingly mixing economics with nationalist foreign-policy agendas, Europe will have to adapt. Read more…


A Very Greek Brexit?

14th February 2019
George Papaconstantinou

Unlike the United Kingdom, Greece is one of the European Union’s smaller economies, notorious for its weak institutions and economy, and a net recipient of EU funds. And yet the Grexit near-exit from the EU in 2015 offers important lessons for the final stage of Brexit negotiations. Read more…


The Great Macro Divergence

30th November 2018
Jean Pisani-Ferry

Ten years ago, nearly all advanced economies fell off the cliff simultaneously. Nowadays, they are neither structurally nor cyclically aligned, and they are unevenly vulnerable to recession, which makes international policy coordination both more necessary and more difficult. Read more…


The Global Economy’s Three Games

26th October 2018
Jean Pisani-Ferry

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. Read more…


Report on the mission to New York and Washington DC

16th October 2018
George Papaconstantinou

Together with Jean Pisani-Ferry, I visited New York and Washington DC during the week starting 17th September to present and discuss the Transformation of Global Governance project of the European University Institute with policy-makers, think tanks and academics. Read more…


Can Multilateralism Adapt?

29th June 2018
Jean Pisani-Ferry

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. Read more…