Trump tariffs: an own goal?
Trump’s tariffs will not serve to reduce the trade deficit, to recover jobs in sectors in which the US has long lost its competitive advantages or to balance the fiscal deficit. Meanwhile, the price to pay is a return to a fragmented world and the destabilisation of the…
16 April 2025
Germany’s fiscal shift and the bund: when security comes at a price
We analyse how the agreement to reform the constitutional debt ceiling and boost defence spending will impact German sovereign debt and the yield on the 10-year bund.
22 April 2025
A shift in the EU’s political priorities
The new European Commission has completed its first 100 days amid turmoil in transatlantic relations. The implementation of Trump’s agenda (and the accompanying drama) is accelerating the change in political priorities that was already foreseen for von der Leyen’s second…
02 April 2025
Ukraine’s reconstruction and its potential energy implications for Europe
One of the most highly debated issues around a partial or total peace agreement and the process of Ukraine’s reconstruction is what will happen to the European energy scenario. Will Europe once again be a major customer of Russian energy?
22 April 2025
Editorial
Key points of the month
Recommended
