Future is Blue

Europe’s response to Chinese and American economic competition

In this new episode hosted by Carlos Carnicero Urabayen, Sander Tordoir, Senior Economist at the Centre for European Reform, delved into the intricate dynamics of the global geopolitical landscape, the rise of economic nationalism and Europe's strategic positioning amidst the assertive manoeuvres of superpowers like the United States and China. Tordoir is one of the authors of the Centre for European Reform comprehensive paper "Europe and the Super Powers: Responding to Economic Na...

The EU's trade dynamics in a changing global landscape

In this episode Carlos Carnicero Urabayen interviews Patricia Sánchez Juanino to learn about current trade trends inside and outside the European Union. 

Spain's economic outlook: Navigating through uncertainty

In this episode Alice Faibishenko, Senior Advisor at Funcas, talks to our host Carlos Carnicero Urabayen about key aspects affecting the Spanish economy in 2024. The conversation is based on several of the articles featured in the latest SEFO report. 

Unpacking the EU's new fiscal rules

In this episode we analyze the new fiscal rules recently agreed by EU policymakers and what will be their impact on Europe's economy in the medium and long term. We are joined by Vinzenz Ziesemer, Director at the Institute voor Publieke Economie and Raymond Torres, Funcas Europe Director. The show is hosted by Carlos Carnicero Urabayen.

EuroInsights: economic lessons in 2023

In today's show we analyse what are the key lessons learned for the EU economy in 2023. Sander Tordoir, Senior Economist at the Centre for European Reform, together with Raymond Torres, Funcas Europe Director in conversation with Carlos Carnicero Urabayen, Future is Blue host.

Spain's resilience amidst geopolitical turmoil

In our new podcast episode we discuss the latest SEFO publication by Funcas covering Spain's economic outlook, together with Alice Faibishenko, Senior Advisor at Funcas. 

Europe's public finances amidst pandemic, war, and energy crisis

In this podcast show Carlos Carnicero Urabayen talks to Raymond Torres, Funcas Europe Director, to analyse the situation regarding public deficits and debt after the pandemic, the Ukraine war and the energy crisis.

Trade wars on wheels? The Commission investigates Chinese electric cars

Sander Tordoir, Senior Economist at the Centre for European Reform, shares great insights about the Commission investigation into Chinese state subsidies affecting cars imported to Europe.  Carlos Carnicero Urabayen is Future is Blue host.

The uncertain duration of high interest rates

In today's new podcast episode we feature Alice Faibishenko, Senior Advisor at Funcas, to analyse the implications of high interest rates for financial institutions, public bodies and other actors. This subject is covered in the latest SEFO report by Funcas that you can access here. 

China's debt domino effect: Is the world economy at risk?

In our new podcast show we analyse what's behind China's debt mounting debt and the risk this represents for the world economy. Our host, Carlos Carnicero Urabayen talks to Alicia García Herrero, Chief Economist for Asia Pacific at Natixis, a French multinational financial services firm, and Senior Fellow at Bruegel think tank, and Raymond Torres, Funcas Europe Director.

Recession, Inflation, Stagflation? Insights from the ECB and fiscal policy dilemmas

In today's show, we cover the most pressing economic topics on the EU's agenda:  Is Europe heading towards a recession along with persistent inflation –or stagflation in light of the recent decision of the ECB to raise interest rates? What could be a realistic fiscal scenario for the EU? The EIA is predicting a turn in energy demand, consistent with the need to fight climate change, echoing the recent G20 summit. What are the pre-requisites for this to happen in Europe?

Unpacking German economic troubles

Is the German economy again the sick man of Europe, as it was once labelled back in the late 90s? We take a look at the current economic challenges of Germany together with Sander Tordoir, Senior Economist at the Centre for European Reform, and Raymond Torres, Funcas Europe Director.

Money and machines: Navigating AI's impact on finance

In this Future is Blue podcast episode, we cover the following questions about AI and the financial sector: How AI is being adopted by the financial sector, particularly in Europe. What are some of the major applications of AI within financial services to date? Key takeaways from all this as we look to the future of AI in banking? You can access here the latest SEFO report including an article about AI and finance.

Understanding the real impact of AI on labor markets

The impact of Artificial Intelligence on labor markets is a complex topic. While AI has the potential to create new opportunities and increase productivity, it also raises real concerns about job displacement and changing workforce dynamics.  To cover this subject we've been joined by Maria Jepsen, Deputy Director at Eurofound, the European Foundation for the improvement of Living and Working Conditions. Maria is featured in our new podcast episode, in conversation with our host, C...

How can the EU stay relevant in a world dominated by US and China?

Joaquin Almunia, who’s chairman of the CEPS think tank Board and former European commissioner for economic and monetary affairs and former Vice president of the European Commission, discusses how the EU can be ready to compete in a world dominated by a global economic race between the US and China. Raymond Torres, Funcas Europe Director joins the discussion hosted by Carlos Carnicero Urabayen.

How can the EU have a successful China policy?

In this show our host Carlos Carnicero Urabayen talks to Sander Tordoir, Senior Economist at the Centre for European Reform, and Raymond Torres, Funcas Europe Director, about how can Europe implement the China policy it needs for a successful relationship with Asia's superpower.

Global outlook and key trends about inflation in Spain

In our new podcast episode Alice Faibishenko, Senior Advisor at Funcas, presents some of the key insights that are included in the latest SEFO report by Funcas, touching on the global economic outlook, how Spain is dealing with inflation and what segments of the population are more exposed to the effects of inflation. The show is presented by Carlos Carnicero Urabayen. The SEFO report is accessible here. 

How to measure and fight inflation in the Eurozone?

Jan Eeckhout, ICREA research professor of Economics at UPF Barcelona, talks to Carlos Carnicero Urabayen, Future is Blue host, about how to correctly measure inflation in the Eurozone and how to get it under control.

How to win the inflation battle?

Sander Tordoir, Senior Economist at the Centre for European Reform, discusses with Raymond Torres, Funcas Europe Director, how the ECB and policymakers can get inflation under control in the eurozone. The show is hosted by Carlos Carnicero Urabayen.

Rising interest rates and the impact on Europe's economy

Alice Faibishenko, Senior advisor at Funcas, discusses with Carlos Carnicero Urabayen, how rising interest rates are impacting banks, the mortgage market, and the Spanish labor market, among other issues. 

How concerning is the banking stress?

In today's show we analyze the banking stress we've seen over the last couple of weeks on both sides of the Atlantic. Today's guests are Iain Begg, Professor at LSE and Raymond Torres, Funcas Europe Director. The host is Carlos Carnicero Urabayen. We explore questions such as:  - Are banks better prepared to cope with a financial crisis compared to what we saw during the global financial crisis? - What are the broad consequences that financial stress may have in Europe's economy? ...

Can we avoid a trade conflict in the Atlantic?

Lourdes Maldonado, Gail and Rob Cañizares Director at the Emerging Markets Institute in Cornell University, together with Raymond Torres, Funcas Europe Director, analyse the implications of the IRA programme in the US and its repercussions for the European industry. The show is hosted by Carlos Carnicero Urabayen

Record rises in interest rates and banks' financing in 2023

Alice Faibishenko, Senior Adviser at Funcas, shares some of the key insights that are included in the latest SEFO report, covering topics such as the impact of record spikes in interest rates and the challenges for banks financing. The content of the report is available here.

Is the IMF getting it right about the world economy?

In today's podcast, the first of a series jointly authored by Funcas Europe and the Centre for European Reform, we cover the following key aspects of the IMFs latest report: - Why is the world economy doing better than expected? - What's the likely course of monetary policy in Europe in 2023? - What are the key risks that can challenge the IMF's outlook? - Is the energy crisis under control in Europe? - Why is the UK the only advanced economy set for recession this year? 

What to expect in Europe's economy in 2023

In our chat we cover these topics: - How realistic it is to see a third of the world entering recession in 2023 - What's the key forecast for Europe's economy in 2023 - Whether or not inflation is irreversibly going down in the eurozone - The energy crisis - The impact of the end of the zero covid policy in China

A year of change in financial markets

In our conversation, we touch on these topics: - The overall situation in the markets in 2022 - Are there some sectors that are faring better? - Interest rates rise and banks’ profitability  - Recent dynamics in the Spanish banking sector - Spanish banks and the factor of non-performing loans To discover key insights in all these questions take a look at the latest Funcas SEFO publications: - November edition - September edition

Key economic challenges for the new Italian government

Deglobalisation: risks and opportunities for the EU

In this new episode Raymond Torres, Funcas Europe Director, talks with Carlos Carnicero Urabayen, Future is blue host, about the recent global trends pointing towards a deglobalisation process: Coronavirus lockdowns, the Chinese zero Covid policy, the war in Ukraine and other factors disrupting global supply chains.

How different EU Member States are dealing with the energy crisis

In our episode Carlos Carnicero Urabayen interviews Francesco Sassi, Researcher specialized in Energy, Geopolitics, and Markets at RIE think tank in Bologna, Italy, to analyse how different EU Member States are dealing with the energy crisis.

Will Europe's energy plans work?

These are the specific questions that we cover in today's show: 1. What are the latest EU decisions or announcements concerning energy markets? 2. To what extent will these measures appease inflationary pressures? 3. Is a recession in the EU unavoidable, in light of the trends in gas markets? 4. What are the key areas where further progress is needed in order for the EU to reach the goal of strategic autonomy with respect to energy?

A bumpy back-to-school awaits policymakers in Europe

In our episode we cover inflation, Europe's plans to cope with gas scarcity, the reform of the electricity system in Europe and the elections in Italy.

What's coming next for the Spanish economy and its banks

You can access here the Funcas latest SEFO report with key insights on topics such as the ECB policy dilemmas and the state of the Spanish economy and its banks, among other topics.

Is the ECB getting it right?

Raymond Torres analyses the latest decisions by the European Central Bank, including the 0.5% increase in interest rates and the announcement of the TPI mechanism to prevent another Eurozone debt crisis. Carlos Carnicero Urabayen hosts the discussion.

Are we safe from another housing market crash?

Carlos Carnicero Urabayen interviews Judit Montoriol Garriga, Lead economist at CaixaBank Research to talk about the current situation of the housing market and the risks that another recession may bring.

How to deal with stagflation

Iain Begg has recently published Stagflation: the return of an unwelcome monster In our conversation we cover the drivers of the current economic situation and we analyse why it is so difficult for policymakers to get the right answer when it comes to dealing with stagflation. We also touch on Europe's energy dependence from Russia and how the green transition can help to alleviate the current situation. 

The Impact of the global food crisis and potential policy answers

Ukraine is a major exporter of agricultural products, especially sunflower oil and wheat, but, due to the war, key export routes, through the country’s Black Sea ports, are now blocked because of a de-facto Russian naval blockade. This is driving prices up for grain and cooking oil, making imports less affordable in poorer countries and contributing, together with rising energy prices, to a cost-of-living crisis even in rich economies, thereby further increasing the likelihood of a...

State guarantee programs helping businesses throughout Covid and the Ukraine crisis

The discussion with Alice Faibishenko is based on the latest SEFO report by Funcas, accessible in this link. The chapter about State guarantees and latent non-performance is available here. 

Can Europe win the global semiconductors race?

A couple of months ago the European Commission announced the EU Chips Act, an initiative putting together 11 billions of public funds for the research, design and manufacture of semiconductors. The goal is to mobilise a total of 43 billion euros of public and private investment until 2030.    To discuss this crucial subject, we are joined in this podcast episode by Elena Pisonero, a top expert with plenty of entrepreneurial and business experience. She is the founder and CEO of Ta...

How is Ukraine's war affecting the Russian and European economies?

In this new episode we take a look at the following questions: - Is the economic pain manageable for Russia as long as oil and gas stays out of this economic war? - What would be the implications for both Russia and European economies if oil and gas are included in the sanctions mix? - Is recession in Europe a real risk as the war's end is not in sight?

Why the West needs a sanctions strategy

In this episode, we cover these questions: Can Europe afford to implement an energy embargo against Russia?, What are Russia's options to retaliate economically against the West? Will China step in and aid financially its Russian ally? Would it make a difference to include other Russian banks in the SWIFT ban? Don't miss Zach Meyers new paper: The West needs a sanctions strategy

Economic and energy implications of Ukraine's war in Europe

In this episode we discuss topics such as Europe’s dependency on Russian gas, the economic consequences of sanctions on Russia for European economies and the implications of the ongoing crisis on Europe’s energy transition plans.

The most important economic challenges facing the EU in 2022

Is the recovery strong enough? Are the EU Next Generation programs robust enough to keep the recovery momentum? How concerning is inflation? To get some answers we are joined by Jean Pisani-Ferry, Tommaso Padoa Shioppa chair of the European University Institute and Senior Fellow at Bruegel think tank, and Raymond Torres, Funcas Europe Director.  

What to expect from the world economy in 2022

After an expansion of 5.5% in 2021, driven mostly by consumer spending a spike in investment and trade in goods above pre pandemic levels, global output is projected to grow by only 4% in 2022 and 3.5% in 2023. There are a number of concerning factors for policymakers, such as the spread of new variants, persistent labour market and supply chain challenges, rising inflation…. Now, can any of this trigger a major crisis?

Why the EU needs a green golden rule

How can we reconcile the need of increasing green public investment in the EU while consolidating public deficits after the pandemic? Don't miss our discussion featuring Guntram B. Wolff, Director of Bruegel think tank, Raymond Torres, Funcas Europe Director, and Carlos Carnicero Urabayen, Future is blue host.

Making fiscal rules friendly to public investment

We continue our debate about the need for the EU to equip itself with new fiscal rules. A new pact is needed to preserve recovery, gradually consolidate public deficits and protect public investment, particularly green investment. Paul De Grauwe, John Paulson Chair in European Political Economy at the London School of Economics joins this conversation with Raymond Torres, Funcas Europe Director, and Carlos Carnicero Urabayen, Future is blue editorial coordinator.

The EU needs new fiscal rules

The current rules were born in the 90s and, in a nutshell, they mandate Member States to keep public debt below 60% and public deficits below 3% of GDP. Fiscal rules were suspended last year so that Member States had fiscal margin to fight an unprecedented crisis. Now everyone seems to agree that we need a new framework.  In this episode we cover why the EU needs different fiscal rules and why a green golden rule may be a good idea. We also discuss the potential obstacles for refor...

Fighting climate change after Glasgow

Don't miss this episode if you want to know what are the key takeaways of the UN COP26 Glasgow summit. We also take a look at how economic recovery can be affected by green transition plans. Is Europe doing enough to fight climate change? Can the green agenda be challenged by a cold and expensive winter? These are some of the questions driving the conversation between María Mendiluce and Raymond Torres.

Can labour shortages risk economic recovery?

There are not enough workers. Businesses are struggling to hire all the workers they need. As of the first quarter of 2021, the eurozone´s active workforce remained 2.6 million below pre-pandemic levels, while the US labour force still has almost 2 million fewer people.  What can policymakers in both side of the Atlantic do about it? 

Can the energy price crisis put at risk the green agenda?

In this episode we are covering one of the most concerning developments we are witnessing over the past few weeks: the rising energy prices. As cold temperatures start knocking on our doors, some fear we are approaching an expensive winter that could complicate the green agenda. Don't miss this conversation hosted by Carlos Carnicero Urabayen with Annika Hedberg and Raymond Torres.

German elections: the centre won and what it means for Europe

Olaf Scholz, the SPD candidate has come first with a very small margin. Presumably, he will try now to form a coalition with the Green Party and the liberals of FDP. This would be the so-called traffic light coalition (red, green and yellow). A Jamaica option is also on the table (with the CDU joined by Greens and Liberals). Worth noting as well that in both traffic light and Jamaica option, the Greens would be positioned as the second partner. This should be important for the EU e...