Zsolt Darvas

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Articles

Streamlining or hollowing out? The implications of the Omnibus package for sustainable finance

1 month ago | bruegel.org | Silvia Merler |Zsolt Darvas |Kamil Sekut |Nicolas Véron

The European Commission’s so-called first Omnibus package, published 26 February, has as its objective “unprecedented simplification” while keeping to the goals of the European Green Deal – the European Union’s net-zero plan – “enabling companies to access sustainable finance for their clean transition”. This is a complex trade-off. If adopted, the package could create risks for the underlying policy objectives of the European Green Deal and disrupt sustainable finance in two important ways.
The evolution of European public goods

Dec 4, 2024 | bruegel.org | Emmanuel Mourlon-Druol |Alicia Garcia-Herrero |Juan Lopez |Juan López |Zsolt Darvas

In this episode of The Sound of Economics, Rebecca Christie invites Johanna Breuer, Emmanuel Mourlon-Druol and Federico Fabbrini to delve into the intricate dynamics of European public goods and how to pay for them. Together, they explore the historical, legal, and political foundations of joint European financing—tracing its evolution from the post-WWII period to recent crises like the pandemic and the war in Ukraine. Relevant publication:Mourlon-Druol, E.
One bad Apple decision: EU tax ruling entrenches distortions

Nov 19, 2024 | bruegel.org | Pascal Saint-Amans |Zsolt Darvas

At first sight, the 10 September 2024 European Union Court of Justice (CJEU) ruling on Apple’s Irish tax bill seems just about fair. The ruling, confirming that that Ireland granted unlawful aid to Apple and should recover €13 billion in unpaid taxes, tackles an extremely aggressive scheme. European Commission executive vice-president and competition commissioner Margrethe Vestager hailed it a “big win for European citizens and for tax justice”.
The Sound of Economics Live: The US voted - what now?

Oct 29, 2024 | bruegel.org | Alicia Garcia-Herrero |Zsolt Darvas

Ask your question on Sli.do #elections24Join Bruegel’s Heather Grabbe, Fiona Scott Morton and Guntram Wolff for a special live broadcast of the Sound of Economics podcast, hosted by Rebecca Christie, to discuss next steps after the U.S. elections on Nov. 5. How will Europe work with the new President and new Congress? What will this mean for Ukraine? What will each side prioritize to stay competitive? Join us for a Europe-centric view from both sides of the Atlantic.
Population ageing is straining public debt

Sep 19, 2024 | bruegel.org | Zsolt Darvas

In this episode of The Sound of Economics, Rebecca Christie sits down with Bruegel Senior fellow Zsolt Darvas and Jennifer D. Sciubba, President and CEO of the Population Reference Bureau from Washington DC. Together, they explore the findings of Darvas’ recent paper on the effects of demographic changes on public debt sustainability, which was presented at the informal Meeting of Economic and Financial Affairs Ministers on 14 September 2024.
Memo to the commissioner responsible for trade

Sep 4, 2024 | bruegel.org | André Sapir |Maria Demertzis |Zsolt Darvas |Luca Léry Moffat

You face three main challenges: maintain the EU’s commitment to open markets at home and abroad by continuing to adhere to the multilateral rules-based trading system; continue to sign and implement free-trade agreements; and head-off the resistance from the Global South to trade-climate policies such as the carbon border adjustment mechanism.
Memo to the commissioner responsible for the European Union budget

Sep 4, 2024 | bruegel.org | Pascal Saint-Amans |Zsolt Darvas

You take over responsibility for the European Union budget at a time of climate emergency, a war near the EU’s border, heightened security risks, increased global protectionism, slow productivity growth and a weak European economic outlook. Demands for new EU spending are mounting. Whilst opinion polls suggest significant alignment among EU citizens on what the EU’s priorities should be, member countries are divided over the size of the EU budget and how to finance it.
The European Central Bank’s operational framework and what it is missing

Jul 17, 2024 | bruegel.org | Zsolt Darvas

In March 2024, the European Central Bank published the results of a review of its operational framework. After discussing how the ECB operational framework has changed since the Great Financial Crisis, we provide an assessment of the review, which we deem as premature and highlight some gaps it has not resolved. First, the choice of a hybrid system is attractive, but needs a precise specification.
Countries are still slow to follow European Union policy recommendations

Jul 11, 2024 | bruegel.org | Zsolt Darvas

The main product of the European Semester – the European Union’s annual process of coordinating member-country economic policies – is country-specific recommendations (CSRs).
The European Union’s proposed duties on Chinese electric vehicles and their implications

Jul 3, 2024 | bruegel.org | Zsolt Darvas |Luca Léry Moffat |Uri Dadush

To make a historical analogy, in the 1970s and 1980s, Japanese and then Korean OEMs appeared to threaten the European automotive industry, but they became established in the EU market only over decades and after large investments. European OEMs adjusted to them by greatly increasing productivity and quality and by adding innovative features.