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How the EU’s fiscal rules should be reformed

Piotr Arak, Łukasz Czernicki, Jakub Sawulski “EUROPP”, London School of Economics: Two key principles have sat at the heart of the EU’s fiscal rules since the Maastricht Treaty: that governments should run budget deficits no higher than 3% of GDP and maintain a public debt no higher than 60% of GDP.

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The costs of growing up during the pandemic

Piotr Arak, “Afrikan Heroes”: Crises define generations. It will be no different for the young people who are experiencing today’s pandemic – the cost of which for them, in mental, educational and labour terms, has reached $1.7 trillion globally – some 2% of global GDP. This generation will be scarred for life.

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How Central Europe can help the US face China

Piotr Arak, “The Brussels Times”: Whereas COVID19 occupies our minds today, it does not make other national security threats less important in the long run. Besides climate change, a vital threat to the American way of life is the rising power of China.

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The Troika changes its mind

Jakub Sawulski, “Obserwator Finansowy”: International Monetary Fund calls to increase public investment to boost the recovery. The European Commission, World Bank and OECD representatives are saying the same. There is a change in the opinions of Troika and other institutions.

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30 years after Covid will the EU still exist?

Piotr Arak, “The Brussels Times”: A question I ask myself more and more is would I like to live in the future or the past? Typically as an economist I would like to see the future but more often I would choose the past which I know more of.

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