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2020 Bruegel Annual Report Summary

Core Content

Bruegel, an independent European think tank established in 2005, continued its mission of improving economic policy through open, fact-based research and analysis in 2020. Despite the challenges posed by the global pandemic, the organization maintained high performance and visibility, with a significant increase in outreach and media mentions.

Main Points

• Leadership Transition: Jean-Claude Trichet, former President of the European Central Bank, stepped down as chairman of Bruegel in 2020, passing the leadership to Erkki Liikanen. This transition marked a new phase for the organization.

• Global Pandemic Response: The year 2020 was marked by Bruegel's rapid shift to remote working due to the outbreak of the coronavirus. This move not only posed challenges but also fostered new collaborative opportunities across the globe.

• Research Focus: Key research themes included the economic and social impacts of the pandemic, the European Green Deal, digitalization, inclusive growth, and the future of work. Bruegel also focused on global governance and the implications of geopolitical tensions on the economic system.

• Policy Influence: Bruegel's research and analysis had a substantial impact on European policymaking and global economic debates. The organization played a crucial role in analyzing the European joint fiscal response and the interactions between monetary, financial, and fiscal policies.

• Transparency and Integrity: Bruegel is committed to transparency, with independent evaluations and public declarations of outside interests. It has been recognized for its openness in financial reporting and governance.

• Team and Structure: The organization has a diverse and international team of over 40 researchers and 60 staff members. The team includes senior fellows, non-resident fellows, research fellows, and affiliate fellows, each contributing to various research areas and policy discussions.

Key Information

• Bruegel's Mission: To improve the quality of economic policy through open and fact-based research, analysis, and debate, while maintaining impartiality, openness, and excellence.

• Outreach and Impact: Bruegel's events attracted over 225,000 participants and viewers in 2020. The media mentioned Bruegel's work almost 10,000 times, highlighting its influence in global economic discourse.

• Research Topics:

  • Economic and social consequences of the pandemic
  • European Green Deal
  • Inclusive growth and future of work
  • Digital tools and their role in pandemic response
  • Global governance, including the EU-China investment agreement
  • Geopolitical tensions and their economic implications

• Financial Performance: Bruegel managed to post a major surplus in 2020, strengthening its financial reserves and ensuring its continued operations despite the economic uncertainty caused by the pandemic.

Key Individuals

• Erkki Liikanen: New chairman of Bruegel, thanked for his leadership and support.

• Guntram B. Wolff: Director of Bruegel, emphasized the importance of global cooperation in the face of the pandemic and highlighted the organization's adaptability and continued relevance.

• Jean-Claude Trichet: Former chairman, recognized for his strategic leadership and contributions to financial stability during the 2008 crisis.

• Marek Dabrowski: Non-resident fellow, focused on economic reforms in Eastern Europe and has held high-level positions in Poland.

• Alicia García-Herrero: Senior fellow, chief economist for the Asia Pacific region at NATIXIS, with a strong background in European and global economic institutions.

• Zsolt Darvas: Senior fellow, research interests include macroeconomics, international economics, and time-series analysis.

• Mario Mariniello: Senior fellow leading the Future of Work and Inclusive Growth project, analyzing the impact of AI on work and welfare systems.

• Laura Nurski: Research fellow working on the Future of Work and Inclusive Growth project, with expertise in industrial organization and economics.

• Diane Mulcahy: Visiting fellow, expert on the gig economy, contributing to Bruegel's research on the future of work.

• Jean Pisani-Ferry: Senior fellow with a long history at Bruegel, known for his expertise in European macroeconomics and governance, and his role in France's presidential campaign.

Conclusion

2020 was a transformative year for Bruegel, marked by resilience in the face of the pandemic, a shift to remote operations, and a continued commitment to evidence-based research and global policy dialogue. The organization's adaptability, transparency, and strong team of scholars and experts ensured its ongoing influence on economic policy and debate.