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Philippe Legrain

@plegrain.bsky.social
220 followers 154 following 109 posts

Senior visiting fellow at LSE's European Institute; Founder, Open Political Economy Network (OPEN) think tank. Author of 5 books, commentator, researcher, dog owner I write a Substack at philippelegrain.substack.com

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Philippe Legrain @plegrain.bsky.social · 08/09/2026
As I called for recently in @projectsyndicate.bsky.social www.project-syndicate.org/commentary/e...
project-syndicate.org
Europe Must Stand with Canada Against Trump
Philippe Legrain calls for middle-power solidarity in the face of a bullying, increasingly isolated American president.
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Philippe Legrain @plegrain.bsky.social · 08/09/2026
Great news for #Canada and the #EU www.bloomberg.com/news/article...
bloomberg.com
EU and Canada Plan Far-Reaching Alliance to Strengthen Partnership
The European Union and Canada are working toward a new, all-encompassing relationship that will range from trade to security, as the transatlantic partners seek to build a new alliance to offset the g...
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Reposted by Philippe Legrain
Project Syndicate @projectsyndicate.bsky.social · 27/08/2026
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.bsky.social argues. bit.ly/4qLAU9i
bit.ly
Europe Must Stand with Canada Against Trump
Philippe Legrain calls for middle-power solidarity in the face of a bullying, increasingly isolated American president.
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Philippe Legrain @plegrain.bsky.social · 09/06/2026
This catastrophic blunder caused the economy to tank, forcing the ECB to reverse course quickly. If Europe’s central bankers again tip the eurozone into recession with another premature rate hike, they will shred their credibility once more. www.project-syndicate.org/commentary/e...
project-syndicate.org
The ECB Should Not Raise Interest Rates Yet
Philippe Legrain argues that while the data are cause for vigilance, monetary tightening would be dangerously premature.
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Philippe Legrain @plegrain.bsky.social · 09/06/2026
While it might seem wise to hike rates preemptively, when the economy is fragile and the future uncertain, it's better to hold fire 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
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Philippe Legrain @plegrain.bsky.social · 09/06/2026
ECB President Christine Lagarde has pledged to take a “data-dependent" approach” to interest-rate decisions. As it stands, the data provide grounds for vigilance, not an immediate rate hike.
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Philippe Legrain @plegrain.bsky.social · 09/06/2026
The economy is much weaker. Price pressures and inflation expectations remain contained; energy prices fell in May. Wage growth is easing. Bond markets have already tightened financial conditions significantly. And uncertainty is massive.
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Philippe Legrain @plegrain.bsky.social · 09/06/2026
The ECB fears the Iran-war energy-price shock will lead to a sustained rise in #eurozone #inflation, and that it will lose credibility as when inflation soared in 2022 due to the post-Covid boom & Ukraine war shocks. But facts, not fear, should dictate policy, and this is not 2022.
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Philippe Legrain @plegrain.bsky.social · 09/06/2026
The @ecb.europa.eu looks set to raise interest rates on Thursday. But that would be a mistake, I argue in my latest column for @projectsyndicate.bsky.social 🧵 #econsky www.project-syndicate.org/commentary/e...
project-syndicate.org
The ECB Should Not Raise Interest Rates Yet
Philippe Legrain argues that while the data are cause for vigilance, monetary tightening would be dangerously premature.
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Philippe Legrain @plegrain.bsky.social · 15/04/2026
Thx to @anandmenon.bsky.social @mijrahman.bsky.social Fabian Zuleeg for their time and expertise Read my latest for @brusselstimes.com www.brusselstimes.com/eu-affairs/2...
brusselstimes.com
Ten years on from the Brexit referendum, is Trump pushing the UK back into the arms of the EU?
British economist Philippe Legrain explains the shifting sands in the UK's relationship with the EU.
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Philippe Legrain @plegrain.bsky.social · 15/04/2026
§ Biggest catalyst for change could be an even greater sense of common threat – eg, if #Trump quits #NATO. But so far there hasn’t been a strategic discussion on how to protect liberal democracy from the forces trying to destroy it, & how the EU-UK relationship fits into that.
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Philippe Legrain @plegrain.bsky.social · 15/04/2026
§ The EU’s position may also evolve. Offering Ukraine a form of associate membership sets a precedent. Given Trump’s rupture of global order & Western alliance, EU wants to cooperate more closely with eg Canada, which could prompt fresh thinking about institutional flexibility.
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Philippe Legrain @plegrain.bsky.social · 15/04/2026
What might break this deadlock? § A pro-EU shift in the UK. Starmer’s weakness is pushing him towards closer single market alignment, while his leadership rivals favour a customs union. But given Labour’s red lines, any big shift would likely only come if it wins a 2nd term.
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Philippe Legrain @plegrain.bsky.social · 15/04/2026
§ UK hemmed in by Labour’s election-manifesto red lines: no return to the single market, customs union or freedom of movement; § UK still wants to have its cake and eat it eg participate in single market without making budget contributions; § UK reluctant to choose EU over US.
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Philippe Legrain @plegrain.bsky.social · 15/04/2026
Hurdles include: § EU is broadly satisfied with its existing deal with the UK, and has more pressing priorities than trying to deepen their economic ties; § EU is reluctant to give the UK special treatment (“no cherry picking”), though it's being more flexible in a few areas;
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Philippe Legrain @plegrain.bsky.social · 15/04/2026
But then Trump & Putin had other ideas. Now, 10 years after the referendum, is Trump pushing UK back into the EU's arms? Relations have certainly improved, as has security cooperation. But progress on economic cooperation remains meagre, cos of practical & political hurdles.
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Philippe Legrain @plegrain.bsky.social · 15/04/2026
#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. 🧵 www.brusselstimes.com/eu-affairs/2...
brusselstimes.com
Ten years on from the Brexit referendum, is Trump pushing the UK back into the arms of the EU?
British economist Philippe Legrain explains the shifting sands in the UK's relationship with the EU.
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Philippe Legrain @plegrain.bsky.social · 20/03/2026
Longer term, though, accelerating the climate transition would enhance both energy security and business competitiveness. My latest for @brusselstimes.com www.brusselstimes.com/eu-affairs/2...
brusselstimes.com
Will the Iran war plunge Europe into recession?
In the 1970s, two big oil shocks sent inflation soaring and depressed Europe’s economy. Could history be about to repeat itself?
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Philippe Legrain @plegrain.bsky.social · 20/03/2026
These look set to push up #inflation and depress economic #growth. #Stagflation beckons. #EU policymakers have options to ease the short-term pain, but they are limited.
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Philippe Legrain @plegrain.bsky.social · 20/03/2026
Will the #IranWar plunge Europe into recession? Amid unprecedented disruption to global oil and gas supplies, it now faces a triple blow of higher energy costs, inflated borrowing costs and increased uncertainty. 🧵 #econsky www.brusselstimes.com/eu-affairs/2...
brusselstimes.com
Will the Iran war plunge Europe into recession?
In the 1970s, two big oil shocks sent inflation soaring and depressed Europe’s economy. Could history be about to repeat itself?
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Reposted by Philippe Legrain
Jonathan Portes @jdportes.bsky.social · 17/02/2026
Employment rates for non-EU born are now *above* those for the UK born. Gap used be nearly 10 percentage points. A tribute to the success of UK immigration/immigrants and labour market integration, especially in recent years. Something government should celebrate..
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Morten Morland @mortenmorland.bsky.social · 17/02/2026
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Philippe Legrain @plegrain.bsky.social · 17/02/2026
Read my latest column for @brusselstimes.com www.brusselstimes.com/eu-affairs/1...
brusselstimes.com
How to revitalise Europe’s economy
"Europe’s core problem is that it has a corporatist economic model that favours big established companies."
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Philippe Legrain @plegrain.bsky.social · 17/02/2026
While many things need to change, at EU level there are 3 big levers for economic reform: deeper integration in the EU's incomplete single market, lighter-touch regulation for smaller companies and innovative sectors, and increased investment, not least in venture capital.
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Philippe Legrain @plegrain.bsky.social · 17/02/2026
While the EU has suffered big external shocks in recent years - Russian energy, US tariffs, Chinese competition - the core problem is its corporatist economic model, which favours established companies in mature industries over innovative startups in growth sectors like tech.
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Philippe Legrain @plegrain.bsky.social · 17/02/2026
#EU leaders have just gathered for yet another discussion on how to make Europe's economy more "competitive". That's the wrong target; the aim should be to make the EU more dynamic. 🧵#econsky www.brusselstimes.com/eu-affairs/1...
brusselstimes.com
How to revitalise Europe’s economy
"Europe’s core problem is that it has a corporatist economic model that favours big established companies."
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Philippe Legrain @plegrain.bsky.social · 06/02/2026
The caveat: if gold becomes a more mainstream financial asset, it may lose some of its safe-haven properties. Read my latest for @brusselstimes.com www.brusselstimes.com/1949906/the-...
brusselstimes.com
The new gold rush: Why investors are suddenly flocking to buy gold
The price of gold recently hit a record high, before falling back. Is it a bubble, or are there valid reasons for this rally?
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Philippe Legrain @plegrain.bsky.social · 06/02/2026
And it can also offer a decent return. Ignoring the past year's exuberance, gold appreciated by an average of 9% a year between Jan 2000 & Jan 2025.
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Philippe Legrain @plegrain.bsky.social · 06/02/2026
Clearly, speculation is part of the story. FOMO has amplified fear of geopolitical & financial turmoil. But in a time of war and Western sanctions, geopolitical upheaval & loss of trust in the dollar, gold is also a valuable form of insurance that has stood the test of time.
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Philippe Legrain @plegrain.bsky.social · 06/02/2026
The price of #gold has plunged over the past week, but is still up more than 10% this year and has nearly doubled since the start of 2025. Is it just a #bubble? Or are there sound reasons for gold's safe-haven appeal? www.brusselstimes.com/1949906/the-...
brusselstimes.com
The new gold rush: Why investors are suddenly flocking to buy gold
The price of gold recently hit a record high, before falling back. Is it a bubble, or are there valid reasons for this rally?
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Reposted by Philippe Legrain
Sathnam Sanghera @sathnam.bsky.social · 05/02/2026
My guide to getting over reading block in @thetimes.com www.thetimes.com/article/12c0...
thetimes.com
Sathnam Sanghera: Help! I’ve fallen out of love with reading
The writer stopped picking up a book for pleasure some time ago, choosing box sets and social media instead. Here’s how he got over his reader’s block
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Philippe Legrain @plegrain.bsky.social · 27/01/2026
Conclusion: We need a fortress Europe militarily, but not economically. Check out my latest column for @brusselstimes.com www.brusselstimes.com/belgium/1937...
brusselstimes.com
Europe needs independence from Trump’s America
"The storm over Greenland may have abated for now, but Europe’s relations with Donald Trump remain grim."
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Philippe Legrain @plegrain.bsky.social · 27/01/2026
Third, develop & deepen partnerships that bypass US with 1) like-minded powers eg #Canada, #Japan, #Australia & #UK 2) emerging powers eg #India & #Mercosur, and 3) cooperate with #China eg on climate change. This explains why EU-Mercosur deal matters btw www.brusselstimes.com/eu-affairs/1...
brusselstimes.com
Why the EU’s new trade partnership with Mercosur matters
"Against the backdrop of Trump’s aggression, Europe and Latin America need to cooperate more."
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Philippe Legrain @plegrain.bsky.social · 27/01/2026
1) Invest massively in EU #tech (& deregulate); 2) Accelerate #energy transition to reduce US gas dependency 3) Issue more EU bonds to boost #euro's global role.
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Philippe Legrain @plegrain.bsky.social · 27/01/2026
Second, reduce Europe's economic vulnerability. Contrary to Trump's claims, EU-US trade is broadly balanced. So if Europe could defend itself, it could stand its ground economically. But still diversify away from US, especially in areas Trump can use as leverage: eg tech, energy, finance
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Philippe Legrain @plegrain.bsky.social · 27/01/2026
France & UK, Europe’s existing nuclear powers, should also develop a nuclear deterrence strategy for defending Europe if Trump won’t. With a defence splurge, a drone wall & an enhanced nuclear deterrent, Europe could better defend Ukraine, deter Putin & resist Trump’s blackmail.
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Philippe Legrain @plegrain.bsky.social · 27/01/2026
2) Invest massively in Ukrainian drone production to aid its defence & erect a drone wall along Europe's border with Russia. 3) Develop joint nuclear deterrent among #NATO countries that surround #Baltic Sea. Sweden & Finland have nuclear reactors & expertise to develop nukes
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Philippe Legrain @plegrain.bsky.social · 27/01/2026
Top priority is #defence. While fully replacing US role will take years, big progress can be made quickly. 1) Spend much more, now. #EU borrowing ideally, raise taxes/cut spending otherwise. The state’s top priority is to defend its citizens. Failing to rearm is a false economy.
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Philippe Legrain @plegrain.bsky.social · 27/01/2026
After the #Greenland crisis, Europeans need to face facts: they can't rely on #Trump to protect them from #Russia; indeed, he too poses a threat. It's time to accelerate plans to reduce Europe’s military, economic & tech dependence on Trump’s America. www.brusselstimes.com/belgium/1937...
brusselstimes.com
Europe needs independence from Trump’s America
"The storm over Greenland may have abated for now, but Europe’s relations with Donald Trump remain grim."
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Philippe Legrain @plegrain.bsky.social · 15/01/2026
Good ideas from @martinsandbu.ft.com on what Europe needs to do to put more pressure on Putin, and be indispensable to talks about #Ukraine www.ft.com/content/7409...
ft.com
Europe must turn the tables on Putin before talking
The priority should be to maximise strategic leverage — and only then pursue communication channels
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Philippe Legrain @plegrain.bsky.social · 10/01/2026
Conclusion: in a world governed by force, Europe needs to be able to defend itself – not by 2035, but now.
brusselstimes.com
Europe braces as Trump targets Greenland
Trump has three options on how to acquire Greenland.
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Philippe Legrain @plegrain.bsky.social · 10/01/2026
When in 2019 Trump first suggested the US acquire #Greenland, Europeans dismissed the idea as a bad joke. But they’re not laughing now. My @brusselstimes.com column explains why Trump wants it, how he might gain control & what that would mean for Europe. www.brusselstimes.com/1910890/afte...
brusselstimes.com
Europe braces as Trump targets Greenland
Trump has three options on how to acquire Greenland.
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Philippe Legrain @plegrain.bsky.social · 17/12/2025
Superb @mortenmorland.bsky.social 🤣
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Martin Sandbu @martinsandbu.ft.com · 11/12/2025
Good piece by @plegrain.bsky.social - thanks for mentioning my "bad bank" proposal for the blocked Russian reserves.
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Philippe Legrain @plegrain.bsky.social · 11/12/2025
thanks Martin
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Reposted by Philippe Legrain
Christopher Miller @christopherjm.ft.com · 11/12/2025
Ukraine’s ‘fortress belt’ that Donald Trump wants to trade for peace Known as the Donbas, the region has become the fulcrum of fraught US-led diplomacy to end Russia’s full-scale invasion. A bit of history, the recent past & present in my @financialtimes.com piece today www.ft.com/content/ec49...
ft.com
Ukraine’s ‘fortress belt’ that Donald Trump wants to trade for peace
Known as the Donbas, the region has become the fulcrum of fraught US-led diplomacy to end Russia’s full-scale invasion
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Philippe Legrain @plegrain.bsky.social · 11/12/2025
Read my latest @brusselstimes.com column www.brusselstimes.com/eu-affairs/1...
brusselstimes.com
Europe must stand with Ukraine, or they will fall together
"EU leaders are quick to tweet that they 'stand with Ukraine'. But talk is cheap. Unless they are willing to follow words with action, Putin will rightly conclude that they are all mouth and no trouse...
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Philippe Legrain @plegrain.bsky.social · 11/12/2025
Providing €80bn a year would entail borrowing 0.4% of EU GDP a year, a total of only 2% of GDP over 5 years. To bypass a Hungarian veto, a coalition of willing governments could, if necessary, establish a separate entity for that purpose, as they did during the eurozone crisis
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Philippe Legrain @plegrain.bsky.social · 11/12/2025
If all else fails, the EU should simply borrow the money to fund Ukraine. That's what the Commission is proposing as a stopgap, and it could also be a viable longer-term solution.
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Philippe Legrain @plegrain.bsky.social · 11/12/2025
There's a compelling case for using Russia’s frozen assets. It would be morally right, legally justified and politically expedient. But Belgium, which hosts most of the assets, objects, as does Hungary’s pro-Putin PM Viktor Orban, and the Commission’s legal workaround is a stretch.
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