Development convergence is taking place in the European Union, mainly due to the Central and Eastern European (CEE) countries’ accession to the EU.

On November 17th we have discussed our report with Maria Demertzis, deputy director, Bruegel.

The European Union will reduce CO2 emissions by 55 per cent compared to 1990, but no sooner than 2032. Due to accelerated decarbonisation, the first 10 countries will achieve climate neutrality by 2045.

At present, as many as 7 Member States of the EU have public debts exceeding 100 per cent, with the limit laid down in the Maastricht Treaty at 60 per cent. In the US, the scale of the Fed’s quantitative easing related to the pandemic has been as much as 57 per cent higher than during the financial crisis.

When the state spends money on roads and railways, we call it ‘investment’. When the state spends on nurseries, school meals, or health care, we call it social, educational, and health expenditure.

Although the volume of world trade in goods dropped by 5.5 per cent in 2020 against 2019, the demand for electronics soared and deliveries of computers went up by 13.1 per cent.

Earlier today the European Commission has presented a plan of legislative proposals on new reduction targets along with a proposal to revise and extend the current EU ETS system to the building and transport sector.

“EURACTIV”: Plans to extend the EU’s carbon market to transport and heating fuels will have the greatest impact on the poorest households.

Spending on infrastructure makes up just 20 per cent of all public investment in EU countries. The remaining 80 per cent can be classified as investment in human capital – spending on citizens’ health and education

The potential annual carbon costs per household in the EU27 is estimated at EUR 373 for transport and EUR 429 for residential buildings.