
๐ช๐บ Founder @open2progress Sr Vis Fellow @LSEEI Author of 5 books. See https://xitter.gq/t.co/9s8ThXwDJV & https://xitter.gq/t.co/R46a9r7GRA
London
Joined March 2010
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#Brexit was not just stupid, it was spectacularly badly timed.
Stupid, cos disrupting trade with your main trading partner is inevitably costly.
Badly timed, cos Brexiteers envisaged the UK embracing the US & a free-trading (and peaceful) global future.
brusselstimes.com/eu-affairsโฆ
Great news for both Canada and the EU bloomberg.com/news/articles/โฆ
Philippe Legrain ๐บ๐ฆ retweeted
Great news for both Canada and the EU bloomberg.com/news/articles/โฆ
Philippe Legrain ๐บ๐ฆ retweeted
The EU urgently needs to muster the courage to offer Canada a much deeper economic, political, and strategic partnership, presenting itself as an attractive alternative to what America has become, @plegrain argues. bit.ly/3UGSRcR
Philippe Legrain ๐บ๐ฆ retweeted
After arguing that middle powers must act together to avoid becoming victims of predatory superpowers, @MarkJCarney has lived by his words. Why won't his European counterparts do the same?, @plegrain asks. bit.ly/3UGSRcR
Philippe Legrain ๐บ๐ฆ retweeted
As @realDonaldTrump wages another gratuitous trade war on Canada, European leaders have been conspicuously silent. They are making a big mistake, @plegrain warns. bit.ly/3UGSRcR
Philippe Legrain ๐บ๐ฆ retweeted
Ironically, sickle cell anaemia is a good example of the problems of reducing issues to racial categories. Because African Americans and Britons of Caribbean origin suffer disproportionately from the traitโฆ 1/
Philippe Legrain ๐บ๐ฆ retweeted
Replying to @plegrain
@plegrain argues that while the data are cause for vigilance, monetary tightening would be dangerously premature.
bit.ly/3S3aXEI
@ecb is fighting the last war. This is not 2022. project-syndicate.org/commenโฆ
This is a mistake
project-syndicate.org/commenโฆ
We raised our key interest rates by 0.25 percentage points.
Read todayโs decisions ecb.europa.eu/press/pr/date/โฆ
The @ecb looks set to raise interest rates on Thursday.
But that would be a mistake, as I argue in my latest column for @ProSyn ๐งต
project-syndicate.org/commenโฆ
The ECB should have learned this in 2011, when it responded to an oil-price & inflation spike by hiking rates twice, even as the eurozone grappled with a financial crisis
This catastrophic blunder caused the economy to tank, forcing the ECB to reverse course quickly.
If Europeโs central bankers again tip the eurozone into recession with another premature rate hike, they will shred their credibility once more.
project-syndicate.org/commenโฆ
Philippe Legrain ๐บ๐ฆ retweeted
While it might seem wise to hike rates preemptively, the opposite is actually true, writes @plegrain: when the economy is fragile and the future uncertain, as in the eurozone today, the pragmatic thing for the @ecb to do is hold its fire. bit.ly/4obiQDT
Philippe Legrain ๐บ๐ฆ retweeted
.@ecb President @Lagarde has pledged to take a โdata-dependent,โ โmeeting-by-meeting approachโ to interest-rate decisions. As it stands, writes @plegrain, the data provide grounds for vigilance, not an immediate rate hike. bit.ly/4obiQDT







