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November 2023
Dear Readers,
Our November edition of GED-Monthly kicks off close to home, as we look at the EU’s ties with the UK – a strained relationship that has been off the EU-bubble’s radar for a while. Yet the combination of a Westminster election due in the next 12 months and current geopolitical shifts will without doubt create a window of opportunity to re-assess the partnership between like-minded allies.
Staying in Europe, we continue with an analysis of how the Strategic Technologies for Europe Platform (STEP) could play an important role in achieving the EU’s political goal of greater cohesion by supporting its lagging regions. We then turn to an assessment of the EU’s Global Gateway project, focusing specifically on its role in the MENA region.
We move on to the EU’s ties with the US and China, focusing, respectively, on the window of opportunity presented by the transatlantic summit and the influence China is exerting on the EU’s neighbourhood.
We conclude with an invitation to a hybrid event on the "Macroeconomic Zeitenwende: How to achieve monetary and financial stability in the Green Transition?" on Wednesday 22 November at 3pm CET. Our guests will include Frank Elderson, Member of the of the Executive Board of the European Central Bank, who will be warmly welcomed by Andreas Esche, Director of our Sustainable Economies programme.
With warm wishes,
Stephan Vopel and Malte Zabel
Director and Co-Director
Europe’s Future Program
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Reshaping Economic Links with the UK Aligns with Bigger European Ambitions
As Labour prepares to return to government, it is absorbing advice on how to repair and improve the United Kingdom’s scarred economic relations with the European Union. Meanwhile, the bloc is currently looking elsewhere - but its ambition of integrating security and economic policies will present it with a new UK-related dilemma going forward. Resolving it could benefit both sides.
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STEP Technology Investment Could Help Lagging EU Regions to Catch Up
The Strategic Technologies for Europe Platform (STEP) is intended to fund projects that contribute to European competitiveness in strategic technologies and to secure value chains. If it is adopted, it could also help economically weaker regions catch up, assuming the potential in green and digital technologies in these regions is identified and supported.
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The EU's Global Gateway: Forging New Pathways
The European Union's Global Gateway initiative is quietly asserting its presence on the world stage by enhancing connectivity, promoting sustainability, and fostering partnerships worldwide. As the EU expands its influence, it seeks to strike a balance between economic interests and geopolitics, with Africa and the MENA region playing vital roles in its ambitious global strategy.
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The EU-U.S. Summit Falls Short of Expectations
The 2023 EU-U.S. Summit projected transatlantic unity in the face of current geopolitical challenges yet failed to produce concrete progress on key bilateral issues. The window of opportunity to resolve tensions and solidify relations is still open, but it is closing fast with elections in the EU and US next year. Brussels and Washington should seize the moment while it lasts.
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The EU and China: Growing Next Door Rivalry
China poses an undisputable challenge to the EU in its neighbourhood. In some cases, this may even undermine the enlargement process, which has gained momentum again in response to Russia’s large-scale war against Ukraine. We argue that the EU should seek to understand Chinas activities in this region, especially their interplay with Russia's influence, and design smart and targeted policies to counter them.
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Macroeconomic Zeitenwende for the Green Transition
The EU is engaged in a profound and ambitious transition to achieve climate neutrality in the next decades. What priorities, instruments, and responsibilities are necessary to better reconcile European macroeconomic goals and climate protection? Is the ECB already “fit for net-zero,” or do we need to rethink monetary policy? To discuss this, we invite you to a discussion with policy experts, both in-person and online.
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In the next edition
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In the next edition we will look at the recent crisis in the Middle East triggered by the terrorist attacks on Israel on October 7. Closer to home, we will set out the results of our latest empirical study which analyses the effects of the renewable energy transition on EU cohesion.
To keep abreast of our work, please keep an eye on our blog: globaleurope.eu
Or follow us on social media: http://twitter.com/GED_Tweet
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