European economy

Carbon emissions

“The Reform Of The Climate Change Act Was Too Hasty”

The German government should make further improvements to the German Climate Change Act in the coming legislative period. This is what Karen Pittel, Director of the ifo Center for Energy, Climate, and Resources, writes in an article for ifo Schnelldienst. “Tomorrow, the EU publishes its Fit for 55 package. As a consequence, it might become necessary to revise the Climate Change Act,” Pittel says. It was only recently, in June…

England Euro2020

55 Years Of Hurt: The Connection Between Investing And Football

Duncan Lamont | (Schroders) | The England men’s football team are in their first major final since 1966. 30 years of hurt has become 55 years of hurt. Just one of many unwelcome statistics that have dogged the national team over the years, and which they hope to soon put an end to. The earlier England-Germany match provided a field day for statistical punditry. Every newspaper article and TV presenter trotted out the line that England hadn’t beaten Germany in a knock-out match since 1966. England went on to beat Germany, thereby demonstrating what we are frequently told is true in the investment world – that past performance is not a guide to the future and may not be repeated.

EU regions

EU Funding For Cross-Border Regions Needs Better Focus

The European Territorial Cooperation programme (Interreg) is a long-standing instrument of EU cohesion policy aimed at encouraging economic growth in border areas. According to a report from the European Court of Auditors (ECA), the cooperation programmes financed through Interreg had clear strategies for tackling existing cross-border challenges. However, several weaknesses in the implementation of the Interreg programmes and in their monitoring limited the potential to unlock the capacity of the adjacent regions they covered.Interreg’s total budget for the 2014-2020 programme period was €10.1 billion. Over €6 billion was used to finance projects associated with internal borders.

ECB bonds

ECB Raises The Bar For Normalisation In The Short-Run, Flexibility Is The Key For Policy

Monex Europe | Today’s announcement by the European Central Bank can be perceived as net dovish in the short-term by markets, as the shift from an asymmetric target to a new symmetric 2% inflation target gives the central bank ample room to run accommodative monetary policy for longer without having to fight markets. Previously, the ECB’s inflation target was set at “below, but close to 2%”, which contributed to the eurozone’s structural issues with low inflation for years. By changing this target to a symmetric target, which means any undershoots and overshoots would be equally undesirable, the central bank moves the bar slightly upwards for inflation before policy is required to tighten.

Emmanuel Macron

Macron Should Go Ahead with Pension Reforms

Nick Ottens (Atlantic Sentinel) | Emmanuel Macron is reportedly mulling pension reforms that were put on hold during the COVID-19 pandemic. There are risks: reforms will almost certainly spark protests, including from trade unions, which oppose raising the retirement age. Macron can ill-afford social unrest a year away from the election. But it could also burnish the French president’s reformist credentials after the COVID-19 crisis forced him into a more…

scottish power reuters

ScottishPower To Invest £3.2 Billion In The UK Over 5 Years

ScottishPower Energy Networks, Iberdrola’s distribution subsidiary in the UK, unveiled its 2023-2028 network investment plan. The company will invest £3.2 billion – around €3.7 billion – over five years, with the aim of driving the UK’s energy and digital transformation as it transitions to an electrified, carbon-free economy. Frank Mitchell, CEO of ScottishPower Energy Networks, said: “We provide an essential public service: maintaining the electricity supply for 6 million people…

semiconductors osram

Europe Is Running Out Of Semiconductors – Here’s What It Can Learn From Tech Survivor Osram

Michael Weinold via The Conversation | The shortage of semiconductor chips has exposed the vulnerability of European high-tech manufacturers that rely heavily on chip imports from Asia. The automotive sector alone, traditionally a European high-tech stronghold, is expected to take a US$110 billion (£79 billion) hit over the coming years as a result. In 2020, high-tech products represented approximately 20% of total exports from the European Union by value, with…

eurocopa 2020 cuando inicia calendario fechas grupos y partidos 1

Euro 2020 – A Football Tournament Where The Big Players Come From China And The US

Simon Chadwick and Paul Widdop via The Conversation | While fans will have their eyes firmly fixed on the efforts of players worth billions of pounds on the field, another big money game will be taking place off it. The Euros is one of the world’s biggest sport events, and a bonanza for corporate sponsors and partners. The underdogs in this big-money corporate competition appear to be the Europeans themselves. For an event being staged in countries including England, Italy, Spain and Romania, UEFA draws very few of its sponsors from the continent. Instead, it is clear that organisations from China and the US have both the financial muscle and the tactical brains to successfully dominate the tournament.

europe vaccination

Europe Takes Up The Baton

Up to half of European adults have now had at least one shot of the available Covid-19 vaccines, infection rates have fallen dramatically, and lockdowns are gradually easing across the continent. Vaccination success will allow Europe’s economic recovery to catch up with the US and China, says Robeco’s strategist Peter van der Welle.