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Europe’s climate quandary

By Jean Pisani-Ferry

01 Jun 2023 · 4 min read

informed Summary

  1. The EU must make trade-offs between transforming its economy, enhancing its competitiveness, and adhering to its principles of fiscal responsibility.

WASHINGTON, DC – As Europe sets its sights on becoming the world’s first carbon-neutral continent, it must perform a delicate balancing act. Can the European Union transform its economy while enhancing its competitiveness? And can it achieve these goals while maintaining its status as a shaper of global standards and adhering to its principles of fiscal responsibility?

The answer to these questions is a resounding no. Trade-offs are unavoidable, and identifying the concessions required to strike the right balance could prove more challenging than policymakers may think.

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