Maria Demertzis
(collection of works, interviews, research)
2020 November 25, Steering the boat towards an unknown destination
The economy of the euro area is forecast to contract by 8.7% in 2020 but grow by 6.1% in 2021. The drop in GDP in 2009, the worst year of the financial crisis, was just over 5%. There is no doubt that the drop we face today is much more significant, although it is expected to be short-lived with a sharp bounce back. However, all EU countries are currently going through a second COVID-19 wave exponentially worse than the first in terms of number of infections, albeit with fewer deaths (so far). Who knows what the real hit to the economy will be, and indeed how long it will be before we can resume normality?
2020, October 13, The future of EU-UK relations (again!)
On 15-16 October the European Council took stock of the implementation of the withdrawal agreement and review the state of the negotiations on the future EU-UK partnership. Leaders will discuss preparatory work for all scenarios after 1 January 2021. The timetable is very tight, with October seen as the last deadline for reaching an agreement that could then be ratified in time for entry into force by the end of the current transition period. In this live recording session of The Sound of Economics, Bruegel’s scholars took a step back and provided the background, as well as outline the key issues at stake necessary to follow the discussions at the Council and understand the ongoing negotiations. We also engaged in an informed debate with the audience on the post-Brexit scenarios.The podcast host, Giuseppe Porcaro, was joined by Maria Demertzis, André Sapir, and Guntram Wolff.
2020, July 2, Financial fragility after #COVID19
In this episode we discuss financial fragility in European households in the time of COVID-19. Before the pandemic hit, a substantial share of households reported that they would be unable to handle a financial emergency. In some EU countries, many had savings equivalent to just a few weeks of basic consumption. Giuseppe is joined by Maria Demertzis, deputy director at Bruegel, and Anna Maria Lusardi, Academic Director of the George Washington University Global Financial Literacy Excellence Center who have authored a paper published by Bruegel on the topic. What did they find out, about how households finances have been impacted by the pandemic so far?
2020, April 10, Did the Eurogroup save the day?
After its longest meeting ever, the Eurogroup reached an agreement yesterday evening. What does the agreement say? What does it mean in terms of the emergency reaction to the economic fallout of the COVID-19 pandemic? What does it mean, more broadly, for the future of Europe? This week, Giuseppe Porcaro is joined by Maria Demertzis, André Sapir and Guntram Wolff to discuss whether the Eurogroup can save the day.
2020, April 3, Mythbusters: debunking economic myths
Economics seems to be full of myths that are hard to debunk. Will robots take our jobs? Are trade deficits bad? Is China such a big economy simply because of the size of its population? This week, Nicholas Barrett, Maria Demertzis, Marta Domínguez-Jímenez and Niclas Poitiers put on the detective cap and become Bruegel's own economic mythbusters.
2020, February 5, Industrial revolutions might not be as fun as they look
2020, January 29, The science of Brexit
On Saturday morning, the United Kingdom will wake up outside the European Union. After 37 years of collaboration, how will Brexit affect research and innovation in Europe and in the UK? What should be the next steps undertaken by both in order to maintain the same level of cooperation? This week, Nicholas Barrett is joined by Maria Demertzis, Guntram Wolff and Michael Leigh, Senior Adjunct Professor of European Studies at the Johns Hopkins University, to discuss a post-Brexit agreement for research and innovation.
2020, January 20, AI in Europe: a conversation with Google's CEO
It seems almost inevitable that Google will be big part of Europe's future. And Europe will be a huge part of Google's too. This week, Alphabet, Google's parent company, hit $1 trillion market cap for the first time. Can Google's AI be socially beneficial? Are big tech companies intrinsically bad? This week, Guntram Wolff talked to Google and Alphabet's CEO, Sundar Pichai.
2020, January 6, Will Iran disrupt the global economy?
Last Friday, Qassem Soleimani, head of the Iranian Revolutionary Guards’ QUDS force, was killed by an American airstrike outside Baghdad airport. The Ayatollah was not pleased and Tehran has promised to retaliate. At the time of recording, the world is still waiting to see how Iran might respond. Some of have speculated that they could disrupt the world’s oil markets by closing the Strait of Hormuz, which acts as a vital artery for around a third of the world’s liquefied natural gas and almost a quarter of the world’s oil. Today, oil prices surpassed $70 and if tension escalates the price is bound to grow. How dependent is the global economy on affordable Middle Eastern fossil fuel? This week, Nicholas Barrett is joined by Maria Demertzis and Niclas Poitiers to discuss how the US-Iran hostilities are affecting the global economy.
2019, December 20, A decade to remember (or possibly to forget) for economists
2019 is coming to an end and so is the decade. How did economics change the world over the last ten years? And did the world change economics? Which economics books defined the last ten years? And what should we anticipate in the decade to come? Today, Nicholas Barrett discusses the past and the future with Niclas Poitiers and Maria Demertzis.
2019, December 19, Getting post-Brexit trade deals done
The UK goes to the polls on Thursday to decide who (and if) they want to "get Brexit done". But, as soon as Britain leaves, it will have 11 months to agree on a trade deal with the EU. Is it possible? Nicholas Barrett is joined by Maria Demertzis and Niclas Poitiers to discuss post-Brexit trade deals with the EU and the USA.
2019, October 31, How not to spend it
Buying a car, a house or a cryptocurrency has never been easier: with a simple click, digital banking has made financial operations accessible to everyone. But, while Fintech has become widespread, financial literacy does not seem to keep up the pace. This week Maria Demertzis and Nicholas Barrett are joined by Annamaria Lusardi, Denit Trust Endowed Chair of Economics and Accountancy from George Washington University School of Business to discuss financial literacy.
2019, October 23, How to Spend it
2019, October 17, The Art of the Brexit Deal
An emergency Brexit podcast to dissect today's tentative deal between the EU27 and the British Government, featuring Maria Demertzis, Guntram Wolff and Nicholas Barrett.
2019, September 18, Deep Focus: What is a hybrid attack?
Hybrid attacks are fast, dynamic and ever-evolving. They can cross borders and span industries. They are best dealt with at the national level, but without international cooperation, nation-states are bound to be overwhelmed. So hybrid attacks must be repelled by responsive nation-states and by cooperative international bodies.
2019, July 4, Director's Cut: Priorities for the new ECB president
2019, June 27, Director's Cut: ECB monetary policy decisions deconstructed
In this Director’s Cut, Bruegel’s Grégory Claeys and Maria Demertzis take a deeper look at whether the monetary policy decisions made by the ECB over the past three presidential eras arrived by consensus, by unanimity or by majority votes of the governing council.
2019, June 12, Director’s Cut: A strategic agenda for the incoming EU presidents
In this Director’s Cut of ‘The Sound of Economics’, Bruegel’s Guntram Wolff and Maria Demertzis talk through their memo to the new presidents of the European Commission, Council and Parliament, outlining the specific measures that should be implemented in order to tackle the most formidable challenges arising in the next five years.
2019, March 12, Director's Cut: The case for a legislative remedy for recessions
Bruegel's Maria Demertzis welcomes Yale Law School professor Yair Listokin to this Director's Cut of 'The Sound of Economics', to discuss how law might be deployed as a macroeconomic tool to counter financial crisis.
2019, February 19, Director's Cut: Balancing free trade with national security interests
In this episode of Director's Cut, Stephanie Segal of CSIS joins Bruegel's Guntram Wolff and Maria Demertzis for a conversation about the tension between free trade and national security issues, and the emerging threats to multilateralism.
2018, December 20, Director’s cut: Wrapping up 2018
With 2018 drawing to a close, and the dawn of 2019 imminent, Bruegel's scholars reflect on the economic policy developments we can expect in the new year – one that brings with it the additional uncertainty of European elections.
2018, November 30, Backstage: Transitioning towards sustainable finance
In this episode of the Backstage series, Bruegel's Non-Resident Fellow Dirk Schoenmaker welcomes Molly Scott Cato, a Green party MEP for South West England, for a conversation on the EU's plan to transition towards sustainable finance.
2018, November 7, Director’s Cut: Options yet open for a Brexit deal
Robin Niblett, director of Chatham House institute, joins Bruegel deputy director Maria Demertzis for an assessment of what progress can be reasonably expected from the final months of the Brexit negotiations.
2018, October 2, Director’s Cut: Is economics asking the right questions?
Bruegel deputy director Maria Demertzis welcomes Financial Times commentator Martin Sandbu to explore the journey taken by the field of economics since the financial crisis struck 10 years ago, and discuss what new tools economics has now that it didn’t have then.
2018, June 19, Director’s Cut: Making Europe financially literate
This week's guest on the Director’s Cut of ‘The Sound of Economics’, Annamaria Lusardi, raises the urgent need to adopt policies that seek to improve people’s understanding of financial concepts and risks, in conversation with Bruegel deputy director Maria Demertzis.
2018, May 15, Director's Cut: Post-crisis prognosis for macroeconomics
The global financial crisis prompted the field of macroeconomics to rethink its methods. In this Director's Cut of 'The Sound of Economics', Bruegel deputy director Maria Demertzis addresses the changes made and the problems still unresolved, in conversation with Nicola Viegi, South African Reserve Bank professor of monetary economics at the University of Pretoria, and Frank Smets, director-general of economics at the European Central Bank.
2018, March 1, Euro-area governance: Where next?
Bruegel deputy director Maria Demertzis hosts this episode of 'The Sound of Economics', with Gideon Rachman, chief foreign affairs correspondent at the Financial Times, and Manfred Weber, chair of the EPP Group in the European Parliament, joining Bruegel director Guntram Wolff for a discussion of the future of euro-area governance.
2018, January 3, Multispeed Europe
In this episode of the Sound of Economics, Maria Demertzis, and Italy's State Secretary for European Affairs Sandro Gozi, discussed about the issue of member-state integration in two or more speeds, one of the recurring questions in the debate about the European project.
2017, March 22, Special edition - The Treaty of Rome at 60
The 60th anniversary of the Treaty of Rome presents an opportunity to reflect on the progress of European integration so far, and to discuss what the future will bring for Europe. We explore these topics in this special edition of The Sound of Economics.
2017, March 10, Banks and borrowers in distress — Europe's NPL crisis
European banks are struggling with high amounts of non-performing loans. We look at the reasons behind this crisis, and how it affects banks, borrowers and the European economy as a whole. Finally, we explore potential solutions.
2016, November 8, Brexit: the way forward
There is still huge uncertainty about the future of EU-UK relations. What will Brexit mean for politics and business, and is there any scope for flexibility in the EU’s fundamental freedoms? We gather experts from Bruegel and the Financial Times to debate the issues.
2016, November 8, Debt resolution: moving on after the crisis
An excess of indebtedness is constraining economic growth in many economies. Indeed, the deleveraging since the financial crisis is exceptionally slow. Why is this the case, and what can be done about it?
2016, September 7, The future of Europe
Europe is at a crossroads. What must European leaders do to combat populism, the refugee crisis, and low growth?
2016, June 24, Brexit: what happens next