Europe's nations and regions

Luigi Guiso, Helios Herrera, Massimo Morelli, Tommaso Sonno, 18 May 2018

There has been some disagreement over the roots of the recent rise of populism in Europe. This column examines variations in exposure to economic shocks and in ability to react to them in different regions of Europe to show that the cultural backlash against globalisation has been driven by economic woes. In regions where globalisation was present but that have benefited economically, there has been no such backlash and the populist message has retreated. The message is clear: if one wants to defeat populism, one must defeat first economic insecurity.

Marco Buti, Reuben Borg, 04 May 2018

It is ten years since the crisis started and Europe is at the cusp of new and different challenges. This column presents the European Commission's spring forecast and the challenges ahead that policymakers should address. The baseline scenario for the European economy over the next two years is one of continued expansion. However, the assessment of risks to the forecast has changed, and the nuances have become more critical. Domestic upside risks have broadly diminished and downside risks to the global outlook have increased significantly in both the short and the medium term.

Marcel Henkel, Tobias Seidel, Jens Südekum, 04 May 2018

Germany shifts a massive amount of fiscal transfers across jurisdictions every year. This column argues that this limits the degree of economic disparities across regions, but comes at the cost of lower national productivity and output. Still, in terms of welfare, Germany would not be better off if all fiscal transfers were abolished.

L Alan Winters, 30 April 2018

Brexit is due to be completed in less than a year, which will have a fundamental impact on the UK's trading relationships with the rest of the world. In this Vox Talks, Alan Winters discusses how modern trade agreements are made, and why they are harder to negotiate than many assume. In order to avoid huge disruptions of trade, the UK must negotiate new agreements across the globe - a task made more difficult by the need to harmonise the sometimes contradicting regulations of different countries.

Miranda Xafa, 18 April 2018

The Brexit vote was a clear setback in the effort to integrate European capital markets. It slowed down the implementation of the Capital Markets Union agenda to avoid pre-empting the Brexit negotiations, and risks an inefficient break-up in the activities of clearing houses that deal in euro-denominated securities. This column, the second in a two-part series, argues that there is a strong case for the Capital Markets Union project to continue with the remaining EU27 members after Brexit, including stronger central oversight.

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