Erik Fossing Nielsen
@erikfossingnielsen.bsky.social
Sr Advisor ‘Independent Economics’
Former Chief Economist, UniCredit, Chief European Economist, Goldman Sachs, former World Bank, IMF, Danish central bank.
Former Chief Economist, UniCredit, Chief European Economist, Goldman Sachs, former World Bank, IMF, Danish central bank.
Thanks.
For me, it’s no longer a question, but a need that has to be met if we are serious about boosting investment.
For me, it’s no longer a question, but a need that has to be met if we are serious about boosting investment.
Wonderful write-up by @erikfossingnielsen.bsky.social on a fascinating fiery debate at CERs annual economics conference this weekend (so fast Erik!)
Should Europe use incentives to pull some of our capital exports back home rather than fund Americas deficits?
independenteconomics.substack.com
Should Europe use incentives to pull some of our capital exports back home rather than fund Americas deficits?
independenteconomics.substack.com
Sunday Wrap by Erik F. Nielsen | IndependentEconomics | Substack
I write about economics, policies and markets - trying to connect the dots. Click to read Sunday Wrap by Erik F. Nielsen, a Substack publication with thousands of subscribers.
independenteconomics.substack.com
November 23, 2025 at 3:32 PM
Thanks.
For me, it’s no longer a question, but a need that has to be met if we are serious about boosting investment.
For me, it’s no longer a question, but a need that has to be met if we are serious about boosting investment.
My call for explicit policies in Europe to redirect the capital export to be invested in Europe instead of abroad.
open.substack.com/pub/independ...
open.substack.com/pub/independ...
Europe needs explicit policies to direct capital flows
My intervention at CER's Ditchley Park conference Friday-Saturday on 'Europe's precarious bid for third pole economic power': The need for explicit policies to redirect investments abroad to Europe.
open.substack.com
November 23, 2025 at 1:59 PM
My call for explicit policies in Europe to redirect the capital export to be invested in Europe instead of abroad.
open.substack.com/pub/independ...
open.substack.com/pub/independ...
In today’s Sunday Wrap - from my summer house in Denmark (on this winter morning):
I remind Trump - who says he is sad about what happened to Europe due to immigration, crime and taxes, that he needs not worry.
open.substack.com/pub/independ...
I remind Trump - who says he is sad about what happened to Europe due to immigration, crime and taxes, that he needs not worry.
open.substack.com/pub/independ...
No reason to be sad about Europe, Mr President
Trump says he is sad about Europe because of immigration and taxes. He has no reason to worry. Greetings from happy Denmark.
open.substack.com
November 16, 2025 at 11:11 AM
In today’s Sunday Wrap - from my summer house in Denmark (on this winter morning):
I remind Trump - who says he is sad about what happened to Europe due to immigration, crime and taxes, that he needs not worry.
open.substack.com/pub/independ...
I remind Trump - who says he is sad about what happened to Europe due to immigration, crime and taxes, that he needs not worry.
open.substack.com/pub/independ...
Reposted by Erik Fossing Nielsen
Lately I’m one of the few who has any optimism left about Germanys potential - alongside folks like @erikfossingnielsen.bsky.social
The sense of doom and gloom amongst German experts and policy-makers themselves is quite something.
The sense of doom and gloom amongst German experts and policy-makers themselves is quite something.
November 12, 2025 at 9:23 AM
Lately I’m one of the few who has any optimism left about Germanys potential - alongside folks like @erikfossingnielsen.bsky.social
The sense of doom and gloom amongst German experts and policy-makers themselves is quite something.
The sense of doom and gloom amongst German experts and policy-makers themselves is quite something.
Strange. You may have to sign on to it at Substack (it’s free).
Alternatively, if you email me at [email protected] I’ll send it to you.
Alternatively, if you email me at [email protected] I’ll send it to you.
Would love to read but the link sends to a private page?
November 10, 2025 at 3:43 PM
Strange. You may have to sign on to it at Substack (it’s free).
Alternatively, if you email me at [email protected] I’ll send it to you.
Alternatively, if you email me at [email protected] I’ll send it to you.
I wasn’t “praising it so much”. All I did was to note it’s higher than the US (which is the country of comparison in this note)
Wait, why is the article praising German life expectancy so much? It's nearly the lowest in Western Europe. Our 81.7 is more than two full years behind Spain and Italy's 84, and is actually a tad closer to the US's 79.6 than to 84. @erikfossingnielsen.bsky.social
November 10, 2025 at 3:41 PM
I wasn’t “praising it so much”. All I did was to note it’s higher than the US (which is the country of comparison in this note)
I have just reposted.
Trying to use the link I get the error:
"This page is private - try signing in with a different email, or letting the author know they've linked to a private page."
"This page is private - try signing in with a different email, or letting the author know they've linked to a private page."
November 9, 2025 at 6:23 PM
I have just reposted.
In today’s note I illustrate why German per capita GDP, while lower, is better than US per capita GDP - and I argue that Germany will outperform the US in 2026-27.
independenteconomics.substack.com/publish/post...
independenteconomics.substack.com/publish/post...
Sign in to Sunday Wrap by Erik F. Nielsen
independenteconomics.substack.com
November 9, 2025 at 10:26 AM
In today’s note I illustrate why German per capita GDP, while lower, is better than US per capita GDP - and I argue that Germany will outperform the US in 2026-27.
independenteconomics.substack.com/publish/post...
independenteconomics.substack.com/publish/post...
At Substack - look for me, Erik Fossing Nielsen, at Independent Economics.
…. And it’s all free!
…. And it’s all free!
How do l sign up to read this? Thanks
November 2, 2025 at 6:31 PM
At Substack - look for me, Erik Fossing Nielsen, at Independent Economics.
…. And it’s all free!
…. And it’s all free!
Trump and Xi eased their tensions this past week, but the root cause - their excessive national - are not being addressed. To do so would require a different type and level of cooperation which - sadly - is not what drives today’s leaders.
independenteconomics.substack.com/publish/post...
independenteconomics.substack.com/publish/post...
Sign in to Sunday Wrap by Erik F. Nielsen
independenteconomics.substack.com
November 2, 2025 at 10:41 AM
Trump and Xi eased their tensions this past week, but the root cause - their excessive national - are not being addressed. To do so would require a different type and level of cooperation which - sadly - is not what drives today’s leaders.
independenteconomics.substack.com/publish/post...
independenteconomics.substack.com/publish/post...
If you are nice to us Europeans, we could consider helping you out …
Being an Anglo-Saxon country not great for borrowing costs right now.
October 27, 2025 at 7:41 PM
If you are nice to us Europeans, we could consider helping you out …
Impressions from Berlin Global Dialogue. Lots of positives, but key impression is one of anger - feeling of betrayal - by China due to rare earths ban.
independenteconomics.substack.com/publish/post...
independenteconomics.substack.com/publish/post...
Sign in to Sunday Wrap by Erik F. Nielsen
independenteconomics.substack.com
October 26, 2025 at 4:22 PM
Impressions from Berlin Global Dialogue. Lots of positives, but key impression is one of anger - feeling of betrayal - by China due to rare earths ban.
independenteconomics.substack.com/publish/post...
independenteconomics.substack.com/publish/post...
Sunday Wrap
Impressions from the IMF Annual Meetings in Washington. First take...
open.substack.com
October 19, 2025 at 2:16 PM
🙏🙏🙏
👇🎯 I remain astounded by how hard so many folks in the media are working to try & make a 🇫🇷 debt crisis happen. This is the correct take.
bsky.app/profile/mcop...
bsky.app/profile/mcop...
The French budget and debt are no worse than in most other major economies.
They all need a medium term plan to restore sustainability. That’ll require broad buy-in from society. It’ll have to include wealth taxation everywhere.
independenteconomics.substack.com/publish/post...
They all need a medium term plan to restore sustainability. That’ll require broad buy-in from society. It’ll have to include wealth taxation everywhere.
independenteconomics.substack.com/publish/post...
October 12, 2025 at 5:35 PM
🙏🙏🙏
The French budget and debt are no worse than in most other major economies.
They all need a medium term plan to restore sustainability. That’ll require broad buy-in from society. It’ll have to include wealth taxation everywhere.
independenteconomics.substack.com/publish/post...
They all need a medium term plan to restore sustainability. That’ll require broad buy-in from society. It’ll have to include wealth taxation everywhere.
independenteconomics.substack.com/publish/post...
Sign in to Sunday Wrap by Erik F. Nielsen
independenteconomics.substack.com
October 12, 2025 at 11:35 AM
The French budget and debt are no worse than in most other major economies.
They all need a medium term plan to restore sustainability. That’ll require broad buy-in from society. It’ll have to include wealth taxation everywhere.
independenteconomics.substack.com/publish/post...
They all need a medium term plan to restore sustainability. That’ll require broad buy-in from society. It’ll have to include wealth taxation everywhere.
independenteconomics.substack.com/publish/post...
This reflects well the majority of feedback I got in the note.
Yet, the present state of affairs (community agreements after delays and “bribery” of small hold-outs along with watering down proposals) is not sustainable.
So what’s going to give?
I think it’ll be the community methods.
Yet, the present state of affairs (community agreements after delays and “bribery” of small hold-outs along with watering down proposals) is not sustainable.
So what’s going to give?
I think it’ll be the community methods.
Is the community method on its way out - multi-speed integration coming?
I remain a bit sceptical: a Europe of multiple speeds has been touted for a long time, but in practice the pressures to move with all EU-27 tend to be really high.
The EU enhanced cooperation clause has rarely been used...
I remain a bit sceptical: a Europe of multiple speeds has been touted for a long time, but in practice the pressures to move with all EU-27 tend to be really high.
The EU enhanced cooperation clause has rarely been used...
In today’s Sunday Wrap I argue that this past week saw Berlin and Paris signal a move to more intergovernmental cooperation in the EU’s response to challenges posed by US and Russia. That’s good news.
independenteconomics.substack.com/publish/post...
independenteconomics.substack.com/publish/post...
October 7, 2025 at 10:39 AM
This reflects well the majority of feedback I got in the note.
Yet, the present state of affairs (community agreements after delays and “bribery” of small hold-outs along with watering down proposals) is not sustainable.
So what’s going to give?
I think it’ll be the community methods.
Yet, the present state of affairs (community agreements after delays and “bribery” of small hold-outs along with watering down proposals) is not sustainable.
So what’s going to give?
I think it’ll be the community methods.
🤣🤣🤣
European federalists be like
October 5, 2025 at 12:33 PM
🤣🤣🤣
In today’s Sunday Wrap I argue that this past week saw Berlin and Paris signal a move to more intergovernmental cooperation in the EU’s response to challenges posed by US and Russia. That’s good news.
independenteconomics.substack.com/publish/post...
independenteconomics.substack.com/publish/post...
Sign in to Sunday Wrap by Erik F. Nielsen
independenteconomics.substack.com
October 5, 2025 at 12:00 PM
In today’s Sunday Wrap I argue that this past week saw Berlin and Paris signal a move to more intergovernmental cooperation in the EU’s response to challenges posed by US and Russia. That’s good news.
independenteconomics.substack.com/publish/post...
independenteconomics.substack.com/publish/post...
Sunday Wrap on the possible re-introduction of a wealth tax in France - the hottest debated issue in the present political crisis.
Why I dont like wealth taxation, but think there is a case for an exemption now.
open.substack.com/pub/independ...
Why I dont like wealth taxation, but think there is a case for an exemption now.
open.substack.com/pub/independ...
Sunday Wrap
Wealth taxation may be the make-or-break topic in France's political crisis. I summarise why I don't like wealth taxation, but that there is a good case for an exemption in today's France.
open.substack.com
September 28, 2025 at 11:37 AM
Sunday Wrap on the possible re-introduction of a wealth tax in France - the hottest debated issue in the present political crisis.
Why I dont like wealth taxation, but think there is a case for an exemption now.
open.substack.com/pub/independ...
Why I dont like wealth taxation, but think there is a case for an exemption now.
open.substack.com/pub/independ...
My thoughts on von der Leyen’s State of Union address:
On balance, I was disappointed.
1. on econ reforms, its was misguided and insufficiently ambitious,
2. On Ukraine, okay, but …
3. On the US, defensive but without explanation for the weird stuff
open.substack.com/pub/independ...
On balance, I was disappointed.
1. on econ reforms, its was misguided and insufficiently ambitious,
2. On Ukraine, okay, but …
3. On the US, defensive but without explanation for the weird stuff
open.substack.com/pub/independ...
Sunday Wrap
Why I was underwhelmed by von der Leyen's State of the Union address on Wednesday: Misguided on economic reforms, okay on Ukraine, defensive (with no explanations) of her questionable deal with Trump.
open.substack.com
September 14, 2025 at 10:43 AM
My thoughts on von der Leyen’s State of Union address:
On balance, I was disappointed.
1. on econ reforms, its was misguided and insufficiently ambitious,
2. On Ukraine, okay, but …
3. On the US, defensive but without explanation for the weird stuff
open.substack.com/pub/independ...
On balance, I was disappointed.
1. on econ reforms, its was misguided and insufficiently ambitious,
2. On Ukraine, okay, but …
3. On the US, defensive but without explanation for the weird stuff
open.substack.com/pub/independ...
Spot on.
"This is not just how authoritarianism happens. This is authoritarianism happening." www.nytimes.com/2025/09/07/o...
Opinion | Stop Acting Like This Is Normal
www.nytimes.com
September 8, 2025 at 9:43 AM
Spot on.