Forecasts of the long-term hit from Boris Johnson’s Brexit range from 2 to 7 per cent. There are several reasons to fear that that the costs will be on the higher side.
China is distorting world trade through its aggressive industrial policy. But fostering ‘European champions’ in order to compete is premature – and risky.
The international role of the US dollar is deeply entrenched. To change that, Europe – and Germany in particular – would need to rethink some core economic policies.
The EU's liberal model of shared sovereignty is under threat. Europe cannot afford to remain a pure soft power. It has to reform and learn how to play power politics.
The EU’s new foreign policy chief, Josep Borrell, may struggle to co-ordinate the Union’s external activities in the face of rival European commissioners and unruly member-states.
Greenhouse gas emissions from Europe’s farms have been flat since 2005. The Common Agricultural Policy, which consumes 37 per cent of the EU’s budget, subsidises a sector that needs to clean up its act.
An EU carbon border tax would be tricky to design, costly to implement and sure to provoke legal challenges. But if done properly there are reasons to think it could succeed.
Putin is good at persuading Western leaders that bad relations with Russia are their fault. They should defend their interests better, but also keep talking to Russia.
The EU's Schengen borderless area is popular, but has been challenged by the migration crisis and terrorism. It needs updating, but not a complete reset.
The Security Union has a mixed record. The next EU leaders should learn from its successes and failures to deal with fresh security questions like migration, China and disruptive technologies.
Putin is good at persuading Western leaders that bad relations with Russia are their fault. They should defend their interests better, but also keep talking to Russia.
