EU approves higher defence budget

A recent paper which has gathered significant attention estimates a 45% tariff equivalent of intra-EU border costs. This column argues that this estimate is likely too high and depends on the particular dataset used and specific estimation choices. Therefore, it also vastly overstates the barriers that are akin to tariffs and could be lowered as a result of European Commission policy decisions. Instead, it argues that there are more urgent reforms with larger potential benefits, such as boosting EU innovation capacity and R&D spending.

Sylvie Matelly, directrice de l’Institut Jacques Delors, avertit : la construction de l’autonomie stratégique européenne entre dans une phase critique. Alors que la menace russe pe

The 2024 reform of the European Union’s fiscal framework promises long-term sustainability through greater national ownership and country-specific medium-term expenditure paths. This column argues, however, that its hurried implementation, lack of transparency, and weaker multilateral oversight risk undermining both credibility and coherence. Early experience suggests that while the reform represents a notable conceptual advance, its effectiveness depends on genuine political commitment and consistent enforcement – two ingredients that have repeatedly eluded Europe’s fiscal governance.