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Incorporating political risk into analysis of sovereign debt sustainability

Political risk is not taken into account when assessing whether countries can manage their debts, but it could be and should be

Has Hungarian obstructionism triggered greater EU fiscal integration?

Viktor Orban, by delaying EU aid to Ukraine, may have inadvertently helped make the case for more EU fiscal federalism

Draghi’s message: sharing economic sovereignty is hard but possible

European public goods should be the linchpin of a new political and institutional contract

Memo to the commissioner responsible for tax policy

Memo to the commissioner responsible for the European Union budget

Debt financing European air defence

A case can be made for financing European air defence through issuance of EU debt

Tough trade-offs: the big strategic issues for the next EU term

Three overarching economic policy trade-offs will set the context for the new Commission from the beginning of its mandate

European Union debt will boost air defense

European Union debt to boost European air defence

European Union borrowing could help fund air defence for the continent, while taking pressure off national defence budgets

Climate change, the next big financial threat

A warming planet poses new risks to European sovereign debt. How can the continent protect itself?

Bypassing the German debt brake and continuing climate spending

There are ways around Germany’s debt brake, which limits government borrowing and is seen as a threat to the climate transition.

What will it cost the European Union to pay its economic recovery debt?

Servicing the EU debt until 2058 seems feasible, despite increased borrowing costs, but member countries must make choices about budget funding

European Union debt financing: leeway and barriers from a legal perspective

The paper investigates the legal feasibility of the EU borrowing on the capital market to finance European public goods.

An Economic Analysis of Debt‑for‑Climate Swaps

This paper examines the economic case for debt-for-climate swaps: partial debt relief in return for climate investment/policies by the debtor country

Debt dynamics: Exploring EU borrowing in changing times

As interest costs rise, the EU should review how they are accounted for in its budget and financial framework.