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A proposal for the design of a Carbon Border Adjustment Mechanism

In March 2021, the European Parliament approved a specific proposal for the introduction of a WTO-compatible Carbon Border Adjustment Mechanism (CBAM), a key element to support the European Green Deal and a real game changer for climate policy. The objective of the CBAM is to fight climate change and to support the EU’s climate objectives, …

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Europe is not a cash machine

The recovery and reconstruction of the European Economy after COVID19 will be a huge task for the European Union, a task that will require difficult decisions. Indeed, Europe is not a cash machine. In this presentation, I develop the reforms that Spain must undertake to take advantage of the historic opportunity provided by the European …

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Tackling inflation if it reappears

One lasting effect of the Global Crisis and the Covid-19 crisis will be a large increase in general government debt worldwide. This may lead to a scenario of ‘fiscal dominance’, in which expansionary fiscal policies are combined with accommodating monetary policies to alleviate the debt burden. This column argues that such a situation would put …

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