The sane insanity of digital sovereignty
Every major economy is now hedging against digital dependence. Matthew Kilcoyne examines digital sovereignty and the economic risks of uncoordinated fragmentation across global technology markets
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Regulation
CBDC and monetary sovereignty
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
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AI risks for employers and employees
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
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AI and systemic risk
AI offers substantial benefits to society. Stephen Cecchetti, Robin Lumsdaine, Tuomas Peltonen and Antonio Sánchez Serrano discuss significant concerns regarding risks to the financial system and propose a mix of competition and consumer protection policies address these vulnerabilities
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The paradox of perfect supervision
Each financial crisis brings more financial supervision, more models and larger buffers – but still fragility persists. Jon Danielsson argues that resilience should be the organising principle of supervision, rooted in the basic idea that has long governed finance itself: diversification
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Securing financial sovereignty
Governments globally have been ramping up initiatives to modernize their digital payment and financial systems. S Yash Kalash writes that nations must guard, strengthen digital rails to secure financial sovereignty
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How authorities should tackle AI challenges
AI is transforming finance faster than the authorities can adapt. Jon Danielsson argues that while AI enhances the financial system’s efficiency, it also poses new, poorly understood risks, and ineffective supervision will mean a higher risk of financial crisis
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From resilience to strength
The EU must speed up its integration and overhaul a model of export-led growth that has faltered amid mounting geopolitical turmoil. Christine Lagarde warns that the EU is increasingly vulnerable to shocks and is lagging behind in areas that will drive growth such as AI
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The EU’s digital deregulation push
The European Commission is seeking to reduce the burden of its digital rulebook. Mario Mariniello discusses a new framework and shows how EU digital reforms must balance efficiency with transparent recognition of distributive consequences
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Rewiring trade for a warming world
The challenge for policymakers is to build rules that function amid disagreement in a divided world. Dennis Snower discusses how COP30 can turn climate goals into trade rules
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