The Sound of Economics

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471

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Jul 2026

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About the show

The Sound of Economics brings you insights, debates, and research-based discussions on economic policy in Europe and beyond. The podcast is produced by Bruegel, an independent and non-doctrinal think tank based in Brussels. It seeks to contribute to European and global economic policy-making through open, fact-based, and policy-relevant research, analysis, and debate.

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July 22, 202647 min

Are jobs disposable now?

In this episode of The Sound of Economics, host Rebecca Christie speaks about the future of work with Bruegel’s Alexandre Mendonça and MIT professor Paul Osterman, author of a new book called Disposable Workers: the Transformation of Employment. In the United States and the European Union, companies are shifting away from long-term permanent jobs to a system with less certainty. Which industries have been most affected and how does that look for their workers? Who benefits from part-time work? Which workers are most disadvantaged? How can public policy adjust around these new dynamics? Artificial intelligence changes what skills workers need and immigration trends shape which workers are available. What conditions will help the economy grow and thrive? Related research: Osterman, P. (2026) ' Disposable Workers: The Transformation of Employment ', Upcoming, Harvard University Press Mendonça, A. (2025) ' On Labor Markets, Inequality and Productivity ', Dissertation, Stockholm School of Economics Christie, R., M. Grzegorczyk and D. Mulcahy (2022) ' Better pensions for the European Union’s self-employed ', Policy Contribution 05/2022, Bruegel

July 15, 202653 min

Building the best safe asset

In this episode of the Sound of Economics, host Rebecca Christie sits down with Bruegel Director Jeromin Zettelmeyer, researcher Silvia Merler and Bank of France Deputy Governor Agnès Bénassy-Quéré to talk about common European debt and the idea of a 'safe asset'. What makes government bonds a part of public infrastructure as well as a tool for financing public goods? Why is how to borrow money for public goods treated as a separate question from how to spend it? Should the European Union sell more common debt or look at a layered system that works with national borrowers, such as the swap proposal put forward by Olivier Blanchard and Angel Ubide? Will United States Treasury bonds always be the world’s only major reference asset, or will the EU get a seat at that table? This episode discusses what a safe asset is, why it matters to Europe and what steps policymakers should take next. Related research: Lappe, M.S and J. Zettelmeyer (2026) ‘ A sober look at the case for common European Union debt ,’ Working Paper 20/2026, Bruegel Bénassy-Quéré, A. (2025) ' Looking for a “fair” international monetary system ,' VoxEU Column, 16 April, CEPR Merler, S. (2025) ' More EU debt issuance would be the best response to Trump’s tariffs ,' First Glance, Bruegel Christie, R. (2022) ' If it doesn’t trade, is it really marketable debt? ,' Blog Post, Bruegel Christie, R. (2025) ' Unlocking the Own Resources Debate – Debt and Competitiveness ,' Testimony, Bruegel

July 8, 202643 min

The battle for the AI stack

In this episode of The Sound of Economics, Yuyun Zhan and Alicia García-Herrero are joined by Bertin Martens and Paul Triolo to take stock of the global artificial intelligence race, from energy and chips to models and applications. They discuss China's progress in catching up to the US, what the recent turmoil around Anthropic's most advanced models reveals about the politics of releasing frontier AI and why Europe, dependent on the US for both chips and models, is left exposed on all sides. They explore whether an "Airbus for AI", an initiative for pooling compute, capital and expertise across member states, could close the gap, and what it would take for Brussels' new cloud and AI industrial proposals to matter at scale. Relevant research: García-Herrero, A. and B. Martens (2026) ' Stack battles: the US-China artificial-intelligence rivalry is moving beyond chips alone ', Analysis 18/2026, Bruegel García-Herrero, A. and B. Martens (2026) ' Europe needs a strategy to close the artificial intelligence compute gap ', Analysis 13/2026, Bruegel This episode is part of the ZhōngHuá Mundus series of The Sound of Economics. ZhōngHuá Mundus is a newsletter by Bruegel, bringing you monthly analysis of China in the world, as seen from Europe. Sign up now to receive it in your mailbox!

July 1, 202645 min

The UK, the EU – and Ukraine?

In this episode of The Sound of Economics, host Rebecca Christie talks about the future of European Union-United Kingdom relations with Bruegel’s Heather Grabbe and Richard Corbett, a former UK Labour Party MEP and also a former advisor to a president of the European Council. Did Brexit turn out the way its supporters hoped, and what have been the economic costs? Will the UK look to rejoin the single market any time soon? The EU has a slate of prospective new members lined up for closer relations who could take priority, especially Ukraine, whose candidacy has been fast-tracked because of the ongoing war. How does Kyiv’s progress affect British prospects? Would the UK have to join the euro if it wanted to come back fully? Are other kinds of relationships possible? With global uncertainty higher than ever, the UK and the EU still have great incentive to work together. Relevant research: García Bercero, I. and H. Grabbe (2025) ' The EU-UK reset: a first, big step in the right direction ', First Glance, Bruegel Grabbe, H. (2026) ' Symbolic membership for Ukraine could bring practical security benefits to the EU ', First Glance, Bruegel Berg, J., R. Christie and H. Geeroms (2026) ' The UK is still not ready for real rapprochement with the European Union ', First Glance, Bruegel Corbett, R. (2026) ' Institutional aspects of Ukrainian accession to the EU ', Policy Brief , FEPS Corbett, R. (2026) ' Is Britain considering a return to the EU? ', Comment, Encompass Corbett, R. (2026) ' Rejoining the EU Quickly is a Realistic Prospect ', 26 May, International Policy Digest

June 23, 202639 min

Europe's China shock 2.0

In this episode of The Sound of Economics, Yuyun Zhan and Alicia García-Herrero invite Philippe Le Corre to examine the growing tensions at the heart of European Union-China relations. With China reporting a record $1.2 trillion trade surplus last year, European industries face intensifying competition across a far wider range of sectors than before, from chemicals and green tech to pharmaceuticals and, most visibly, the auto industry. They explore whether the EU's new trade instruments are up to the task, why member state fragmentation may be a bigger obstacle than Beijing itself and how the risk of Chinese retaliation constrains every move Brussels makes. Relevant research: García Bercero, I., B. McWilliams and S. Tagliapietra (2026) ‘ The flaws in the European Union’s proposed Industrial Accelerator Act and how to fix them ’, Policy Brief 10/2026, Bruegel This episode is part of the ZhōngHuá Mundus series of The Sound of Economics. ZhōngHuá Mundus is a newsletter by Bruegel, bringing you monthly analysis of China in the world, as seen from Europe. Sign up now to receive it in your mailbox!

June 17, 202650 min

AI, demographics and China

In this episode of The Sound of Economics, host Rebecca Christie looks into the future with Bruegel’s emerging talents Maria Catarina Louro, Tillman Schenk and Théo Storella. Demographic change is coming for the world, as fewer new workers grow up to replace earlier generations of workers. China is at a crossroads of not only population decline but also industrial dominance, putting its economy in renewed competition with the United States and Europe. And artificial intelligence will change the workforce, the manufacturing base and the productivity outlook all over the world. How should current policymakers and thinkers shape the world that lasts beyond their lifetimes? How can the field of economics contribute? Relevant research: Bruegel Dataset (2023) ' China economic database ', version of 27 May 2026, Bruegel Dabrowski, M. and M. Catarina Louro (2025) ' Economic convergence, demography, labour markets: what progress have EU candidate countries made? ' Analysis 29/2025, Bruegel García-Herrero, A., T. Storella and J. Xu (2025) ' European companies operating in China: from digging in to rethinking their presence ', Working Paper 14/2025, Bruegel Richter, P. and T. Schenk (2025) ' EU data processing consent reform must account for market incentives ', Analysis 39/2025, Bruegel Schenk, T. (2026) ' Chips Act 2.0 and beyond: Indispensability, not self-sufficiency ', Comment May 2026, Encompass

June 10, 202646 min

What you need to know about ETS

In this episode of The Sound of Economics, host Rebecca Christie speaks with Bruegel’s Simone Tagliapietra and Flora Marchioro about the European Union’s pathbreaking carbon trading scheme. Two decades in, what have we learned about capping emissions and using tradeable allowances to rein in pollution from energy-intensive sectors? What are the stakes of this year’s review of ETS, which includes electricity and heat generation, industrial manufacturing, domestic aviation and the maritime sector? Why is the EU now creating a second round of ETS 2, covering buildings and road transport, and what are its prospects? Who gets the money from ETS revenues and how is it earmarked? And how is the EU working to prevent carbon leakage and manage its new carbon border adjustment mechanism? This discussion will get you up to speed and ready for what comes next. Relevant research: Mramor, T. and S. Tagliapietra (2026) ' Europe’s emissions trading system is an ally, not an enemy, of industrial competitiveness ', Analysis 03/2026, Bruegel Tagliapietra, S. and G. Zachmann (2026) ' Five reasons why attacking the EU carbon market is economic self-sabotage ', First Glance, Bruegel Pahle, M., D. Sultani and G. Zachmann (2026) ' Defragmenting European Union climate policy ', Policy Brief 03/2026, Bruegel

June 3, 202647 min

Where is the growth?

In this episode of The Sound of Economics, host Rebecca Christie discusses the European Commission’s spring economic forecast with Bruegel’s Andreas Billmeier and Mahmood Pradhan. Growth is slowing down while inflation surges in response to higher energy prices. Is the job market on the brink of a bigger slump? Will energy markets adjust again or will this cycle last longer? How might the European Central Bank react? Looking outside the European Union, how is the UK economy faring? Will the costs of Brexit force a reassessment of UK-EU relations in London? As long as global conditions remain so uncertain, European economies are unlikely to bounce back – so how can policymakers find the growth they need? With bigger economies like Germany and Italy in the doldrums while Poland, Denmark and Sweden show more resilience, how should the EU respond and what could be coming next? Relevant research: European Commission (2026) ' Spring 2026 economic forecast: Slowdown in growth as energy shock drives up inflation ', 21 May Weder di Mauro, B. and J. Zettelmeyer (2026) ' The new global imbalances: why care, why now and what should be done? ', Essay 01/2026, Bruegel

May 27, 202640 min

Reassessing China's role in the Middle East

In this episode of The Sound of Economics, Yuyun Zhan and Alicia García-Herrero sit down with Jonathan Fulton to interrogate some persistent assumptions about China's role in the Middle East. From the China–Iran partnership to the Saudi–Iran rapprochement, they explore whether the conventional wisdom misreads a deeply complex region – overstating Chinese ambition, understating local agency and flattening a relationship that is transactional, rather than strategic. Relevant research: Fulton, J. (2025) ‘ Present without impact? How the Middle East perceives China’s diplomatic engagement ’, Issue Brief, Atlantic Council García-Herrero, A. (2026) ' What the war in Iran means for China ', Analysis 06/2026, Bruegel This episode is part of the ZhōngHuá Mundus series of The Sound of Economics. ZhōngHuá Mundus is a newsletter by Bruegel, bringing you monthly analysis of China in the world, as seen from Europe. Sign up now to receive it in your mailbox!

May 20, 202635 min

Money, stablecoins and the dollar

In this episode of The Sound of Economics, host Rebecca Christie sits down with renowned economists Barry Eichengreen and Lucrezia Reichlin to discuss the past, present and future of money. Will the dollar remain the world’s global currency? How should we think about the euro and the renminbi? What about stablecoins? Eichengreen discusses current risks in the context of his new book Money beyond borders : global currencies from Croesus to crypto . Reichlin discusses Bruegel’s new paper, prepared for the 22-23 May 2026 informal meeting of European Union economic and finance ministers, which proposes allowing stablecoin issuers to pay interest and to have access to central bank reserves. As ministers gather in Cyprus, which currently holds the European Council presidency and was the birthplace of coined money in the 6th century BCE, we talk about how money came to be, where its risks lie and how to make the best use of it going forward. Related research: Reichlin, L., B. Sangers and J. Zettelmeyer (2025) ‘ A new strategy to contain stablecoin risks in the European Union ’, Policy Brief 09/2026, Bruegel Reichlin, L. (2025) ' The European Union should embrace decentralised finance and make it safe ', Analysis 40/2025, Bruegel Eichengreen, B. J. (2026) 'Money beyond borders : global currencies from Croesus to crypto .' Princeton, New Jersey : Princeton University Press