Calls for a digital euro increasingly invoke monetary sovereignty. Lucrezia Reichlin argues that an effective defence of monetary sovereignty will continue to depend on regulation, fiscal capacity, and the ECB’s willingness to absorb risk when it matters

The geopolitical order keeps shifting. Agnès Bénassy-Quéré, Giancarlo Corsetti, Giulia Sestieri and Rolf Strauch discuss the economic security issues raised by services trade in the EU and call for a common industrial policy for services to boost competitiveness

AI-powered transcription tools are increasingly used in the workplace. Aida Ponce Del Castillo argues in an analysis from data protection law and the AI Act that their deployment raises risks both for employees and employers

EU member states may now exceed deficit limits if the borrowing finances defence. Paolo Surico proposes exempting innovation-related expenditure, rather than procurement, to raise long-run growth while maintaining fiscal responsibility and strategic autonomy

Maximising the European Union’s innovation capacity is an overriding EU policy priority. Fiona Scott Morton and Reinhilde Veugelers propose an optional EU regime to lower barriers for high-growth startups via swift incorporation, simple governance and crossborder access

The world has changed fundamentally. Ignacio García Bercero and Niclas Poitiers argue that the EU needs a balanced strategy to cut reliance on the US and China while improving its capacity to counter coercive economic threats