Articles
AI diffusion in the EU: Why geography still determines technology adoption
Autores:
Salas Fumás, Vicente
AI adoption among EU firms has accelerated rapidly but remains highly uneven, with Scandinavian economies recording adoption rates above 35% compared with single digits in parts of Southern and Eastern Europe. Persistent gaps in economic development, research capacity, and workplace digitalisation help explain this divergence,…
The limitations of AI and their implications for the economy
Autores:
Münchau, Wolfgang
Public debate on AI oscillates between dismissal and alarmism, but both extremes stem from the same misunderstanding: misreading what the technology actually does. Pattern recognition and imitation do not amount to capacity for reasoning or creativity, and that distinction will shape AI’s ultimate impact on…
A decade of Solvency II and the review underway
Since 2016, Solvency II has reinforced solvency, governance and supervisory convergence across the EU, but has also revealed procyclical pressures, an excessive compliance burden on smaller insurers, and constraints on the sector′s capacity to finance long-term productive investment. The review now underway aims to correct…
Geopolitics and the internationalization of Spanish Banking: Risk and diversification
Rising geopolitical tensions are increasingly shaping bank valuations, financial conditions, and risk perceptions in global markets. Spanish banks’ high degree of internationalization offers a partial buffer, with geographic diversification helping to stabilize earnings and mitigate exposure to localized shocks.
Private credit and the relocation of risk in modern finance
Private credit has expanded rapidly into segments vacated by banks, emerging as a central pillar of corporate financing within the non-bank ecosystem. Its continued growth, alongside persistent linkages to the banking system, is reshaping the distribution of risk and raising questions about how losses would…