Memo
to the presidents of the European Commission, Council and Parliament.
'A strategic agenda for the new EU leadership' by Maria Demertzis, André
Sapir and Guntram Wolff is the first of our 2019 Bruegel memos to the
new presidents of the European Commission, Council and Parliament.
Focusing on the most important economic questions at EU level, these
Bruegel memos are intended to be a strategic to-do list, outlining the
state of affairs that will greet the new Commission.
The next presidents of the European
Commission, Council and Parliament will inherit a relatively healthy
European economy, but will face three formidable challenges in the next
five years.
First, the incoming presidents must define
Europe’s place in an increasingly bipolar world driven by a
geostrategic rivalry between the United States and China. They should
avoid protectionism but must strengthen Europe’s technological,
financial and security capacities. They should also continue to support
multilateral institutions and stand ready to retaliate against trade
aggression.
Second, global warming is a reality and
temperatures appear to be rising faster than forecast. The new
incumbents need to impose higher prices on greenhouse-gas emissions,
guide a deep transformation of our economies, minimise the resulting
social fallout, ensure border carbon adjustment and globalise the EU’s
decarbonisation.
Third, the three presidents need to manage
the economy and EU cohesion. The main worry is a deep recession or even
a new crisis. By guiding European policymakers on the use of pro-active
fiscal policy, the presidents can reform the governance of the euro
area and address tax fraud and evasion.
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