Openness, Strenght and Resilience (cepPolicyBrief COM2021_32)

"The Commission's goal must not lead to a protectionist policy, as the net gains of an open economy are enormous," says Paris-based cep expert Victor Warhem, who co-authored the analysis. The Commission's commitment to continue working for open trade is therefore "of great importance", stresses the French economist.

According to Warhem, the international standing and strength of the euro is a market-driven consequence - and not, as Brussels claims, a precondition of the EU's economic and political power. The cep expert calls on the EU to free itself from the grip of third parties: "For reasons of financial stability, the EU's dependence on central counterparties from third countries should be reduced," says Warhem.

According to Warhem, the Corona pandemic in particular has shown Europe limits with supply shortages of protective masks and vaccines: Internal limits, limits to its ability to act and limits to its own sovereignty.