Luiss Research Center for European Analysis/Policy

My interview with @carlasignorile @classcnbc on the role of the weakness of the USD, US Treasuries, and Moody's downgrade. USD as a reserve currency and the market's lack of confidence, the Commission's forecasts, UK-EU deal. lnkd.in/eskWDetZ

1/ 19 May 2025 #EUROPEAN #COMMISSION SPRING #FORECASTS The uncertain outlook for the #Eurozone #fiscal position The European Commission cut Eurozone growth forecasts to 0.9% for this year (1.3% in November) and 1.4% for 2026 (1.6%) ...

4/ Only four of the top five EU countries activated the national escape clause for defence & security spending. The fiscal stance was projected to become neutral by 2026 following moderate tightening in 2024 and, to a lesser extent, in 2025.

5/ However, it will depend on the implementation of the German package, Eurozone defence & security spending, and the decision to activate the escape clauses. (please check with me for full commentary; institutional investors only)

My interview with @Capitalist_it (Italian only) on US Tariffs "The American consumer will suffer the most, Italy must keep its nerves" capitalist.it/intervista-lor…

1/ My quote in today's FT: "Implementing Mario Draghi’s blueprint to raise European productivity — from expediting capital and fiscal union efforts to aligning red tape — will also face hurdles, notes Lorenzo Codogno, a former chief economist at the Italian Treasury department.

2/ “The reform process is incremental in normal times. Negotiating across 27 member states remains a battle." ft.com/content/6596da88-f2a3…