Adam Tooze, author at Social Europe

About Adam Tooze

Adam Tooze is professor of history at Columbia University and author of Crashed: How a Decade of Financial Crises Changed the World.

Light in the tunnel or oncoming train?

by Adam Tooze on 30th November 2020

Adam Tooze argues that the frail eurozone recovery hinges entirely on its guarantee by the European Central Bank.

China takes the climate stage

by Adam Tooze on 19th October 2020

Adam Tooze assesses the significance of China’s goal-setting for climate neutrality.

The politics of currencies

by Adam Tooze on 14th September 2020

Adam Tooze argues that worrying about the euro exchange rate and a non-existent inflation enemy in Europe must give way to fiscal and monetary demand boosts.

Carbon pricing and the exit from fossil fuels

by Adam Tooze on 6th July 2020

Adam Tooze argues the European Green Deal and young Europeans’ activism are fostering a virtuous circle favouring more rapid decarbonisation.

Time to expose the reality of ‘debt market discipline’

by Adam Tooze on 25th May 2020

As another sovereign-debt crisis looms, Adam Tooze warns against repeating the mistake of delegating to anonymised ‘markets’ accountable political choices.

‘Corona bonds’ and Europe’s north-south divide

by Adam Tooze on 13th April 2020

The Eurogroup’s decision to reject corona bonds will leave destabilising political scars.

Hard truths about the eurozone crisis

by Adam Tooze on 2nd March 2020

There has been little honest reflection within the European Commission about the eurozone crisis. Until now.

The fierce urgency of COP26

by Adam Tooze on 20th January 2020

Adam Tooze stresses that the critical COP26 conference later this year hinges on European unity and radical leadership.

The German impasse

by Adam Tooze on 12th November 2019

Adam Tooze dissects how the macroeconomic policy discourse is disabling necessary German, and European, steps forward.

Grosse Koalition, small Klimapaket

by Adam Tooze on 30th September 2019

Much was expected of the new climate package negotiated by the grand-coalition government in Berlin. Less was delivered.

The International Monetary Fund leadership is not a bargaining counter

by Adam Tooze on 22nd July 2019

Europe must get beyond seeing the head of the IMF as part of the spoils from Bretton Woods.

Europe’s coal problem

by Adam Tooze on 10th June 2019

The eurozone muddled through its crisis at Germany’s behest. The climate emergency is much too serious for that.

Pensions in the age of Covid-19

Pension policy is not safe from the potentially dramatic consequences of the pandemic. But in terms of pension politics, the pandemic also represents a window of opportunity to rethink the political debate on the future reform agenda. This policy brief sheds light on the short- and long-term consequences of Covid-19 for pensions in Europe. Short-term measures have consisted of temporary reduction and/or deferral of social contributions, ad hoc benefits for at-risk elderly, and additional resources for the social-security budget. However, the longer-term effects are projected to be massive for financial sustainability and social adequacy. Although there seems to be a space for social spending to buffer the effects of the crisis, still pension policies recall old debates regarding the intergenerational clash between younger generations in need of greater financial support and older generations with unsustainable social (and pension) rights.

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Living, working and COVID-19

This report presents the findings of the Living, working and COVID-19 e-survey, carried out by Eurofound to capture the far-reaching implications of the pandemic for the way people live and work across Europe. The survey was fielded online, among respondents who were reached via Eurofound’s stakeholders and social media advertising. Two rounds have been carried out: one in April, when most member states were in lockdown, and one in July, when society and economies were slowly re-opening. The findings from the first round reflected widespread emotional distress, financial concern and low trust in institutions. Levels of concern abated somewhat in the second round, particularly among groups of respondents benefiting from support measures implemented during the pandemic. The results underline stark differences between countries and between socioeconomic groups that point to growing inequalities. They confirm the upsurge in teleworking across all countries during the COVID-19 pandemic, and the report explores what this means for work–life balance and job quality.

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The Brexit endgame is upon us: deal or no deal, the transition period will end on January 1st. With a pandemic raging, for those countries most affected by Brexit the end of the transition could not come at a worse time. Yet, might the UK's withdrawal be a blessing in disguise? With its biggest veto player gone, might the European Pillar of Social Rights take centre stage? This book brings together leading experts in European politics and policy to examine social citizenship rights across the European continent in the wake of Brexit. Will member states see an enhanced social Europe or a race to the bottom?

'This book correctly emphasises the need to place the future of social rights in Europe front and centre in the post-Brexit debate, to move on from the economistic bias that has obscured our vision of a progressive social Europe.' Michael D Higgins, president of Ireland

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The macroeconomic effects of the EU recovery and resilience facility

This policy brief analyses the macroeconomic effects of the EU's Recovery and Resilience Facility (RRF). We present the basics of the RRF and then use the macroeconometric multi-country model NiGEM to analyse the facility's macroeconomic effects. The simulations show, first, that if the funds are in fact used to finance additional public investment (as intended), public capital stocks throughout the EU will increase markedly during the time of the RRF. Secondly, in some especially hard-hit southern European countries, the RRF would offset a significant share of the output lost during the pandemic. Thirdly, as gains in GDP due to the RRF will be much stronger in (poorer) southern and eastern European countries, the RRF has the potential to reduce economic divergence. Finally, and in direct consequence of the increased GDP, the RRF will lead to lower public debt ratios—between 2.0 and 4.4 percentage points below baseline for southern European countries in 2023.

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