Paweł Tokarski
@tokarski.bsky.social
Currency and politics in the EU, #eurozone with a focus on France and Italy @ SWP Berlin.
PhD in economics, College of Europe (Natolin) Alumnus
Views expressed are my own
PhD in economics, College of Europe (Natolin) Alumnus
Views expressed are my own
Pinned
Europe’s fiscal–geopolitical vicious circle
Europe’s growing debt burden and geopolitical tensions are reinforcing each other: A lack of fiscal space is weakening the European Union’s...
www.swp-berlin.org
Fiscal fragility meets geopolitical stress:
Europe’s debt burden is curbing its strategic autonomy, while global tensions push spending even higher.
Read my latest piece 👇
www.swp-berlin.org/en/publicati...
Europe’s debt burden is curbing its strategic autonomy, while global tensions push spending even higher.
Read my latest piece 👇
www.swp-berlin.org/en/publicati...
Reposted by Paweł Tokarski
Microsoft will hike prices by up to 33% next year. Time for Europe to get serious about alternative software
www.cnbc.com/2025/12/04/m...
www.cnbc.com/2025/12/04/m...
Microsoft will raise prices of commercial Office subscriptions in July
For the second time in five years, Microsoft is hiking prices for commercial customers of its widely used Office bundles.
www.cnbc.com
December 8, 2025 at 10:59 AM
Microsoft will hike prices by up to 33% next year. Time for Europe to get serious about alternative software
www.cnbc.com/2025/12/04/m...
www.cnbc.com/2025/12/04/m...
Microsoft will hike prices by up to 33% next year. Time for Europe to get serious about alternative software
www.cnbc.com/2025/12/04/m...
www.cnbc.com/2025/12/04/m...
Microsoft will raise prices of commercial Office subscriptions in July
For the second time in five years, Microsoft is hiking prices for commercial customers of its widely used Office bundles.
www.cnbc.com
December 8, 2025 at 10:59 AM
Microsoft will hike prices by up to 33% next year. Time for Europe to get serious about alternative software
www.cnbc.com/2025/12/04/m...
www.cnbc.com/2025/12/04/m...
Reposted by Paweł Tokarski
Two questions will define the next chapter:
How far will the US go to protect its Big Tech giants and how far are we willing to go to protect ourselves?
How far will the US go to protect its Big Tech giants and how far are we willing to go to protect ourselves?
December 8, 2025 at 10:11 AM
Two questions will define the next chapter:
How far will the US go to protect its Big Tech giants and how far are we willing to go to protect ourselves?
How far will the US go to protect its Big Tech giants and how far are we willing to go to protect ourselves?
Reposted by Paweł Tokarski
It's nice to read articles titled ‘Poland ready to fight’, but the reality is grim: the Polish armed forces are still unprepared for a new war based mostly on drones and fought without US support.
‘I’d defend our nation’: Poles prepare for growing threat of war
‘I’d defend our nation’: Poles prepare for growing threat of war
From digging trenches and building walls, to learning survival skills, Poland is increasingly aware of risks posed by its eastern neighbours
www.theguardian.com
December 8, 2025 at 9:27 AM
It's nice to read articles titled ‘Poland ready to fight’, but the reality is grim: the Polish armed forces are still unprepared for a new war based mostly on drones and fought without US support.
It's nice to read articles titled ‘Poland ready to fight’, but the reality is grim: the Polish armed forces are still unprepared for a new war based mostly on drones and fought without US support.
‘I’d defend our nation’: Poles prepare for growing threat of war
‘I’d defend our nation’: Poles prepare for growing threat of war
From digging trenches and building walls, to learning survival skills, Poland is increasingly aware of risks posed by its eastern neighbours
www.theguardian.com
December 8, 2025 at 9:27 AM
It's nice to read articles titled ‘Poland ready to fight’, but the reality is grim: the Polish armed forces are still unprepared for a new war based mostly on drones and fought without US support.
Reposted by Paweł Tokarski
The EU is declaring its digital sovereignty.
It's the first penalty imposed on a major platform under the Digital Services Act (DSA).
Non-compliance will result in periodic penalty payments.
www.politico.eu/article/eu-s...
It's the first penalty imposed on a major platform under the Digital Services Act (DSA).
Non-compliance will result in periodic penalty payments.
www.politico.eu/article/eu-s...
EU slaps €120M fine on Elon Musk’s X, straining ties with US
US vice president says EU should not be ‘attacking American companies over garbage.’
www.politico.eu
December 8, 2025 at 8:44 AM
The EU is declaring its digital sovereignty.
It's the first penalty imposed on a major platform under the Digital Services Act (DSA).
Non-compliance will result in periodic penalty payments.
www.politico.eu/article/eu-s...
It's the first penalty imposed on a major platform under the Digital Services Act (DSA).
Non-compliance will result in periodic penalty payments.
www.politico.eu/article/eu-s...
The EU is declaring its digital sovereignty.
It's the first penalty imposed on a major platform under the Digital Services Act (DSA).
Non-compliance will result in periodic penalty payments.
www.politico.eu/article/eu-s...
It's the first penalty imposed on a major platform under the Digital Services Act (DSA).
Non-compliance will result in periodic penalty payments.
www.politico.eu/article/eu-s...
EU slaps €120M fine on Elon Musk’s X, straining ties with US
US vice president says EU should not be ‘attacking American companies over garbage.’
www.politico.eu
December 8, 2025 at 8:44 AM
The EU is declaring its digital sovereignty.
It's the first penalty imposed on a major platform under the Digital Services Act (DSA).
Non-compliance will result in periodic penalty payments.
www.politico.eu/article/eu-s...
It's the first penalty imposed on a major platform under the Digital Services Act (DSA).
Non-compliance will result in periodic penalty payments.
www.politico.eu/article/eu-s...
Reposted by Paweł Tokarski
The calls from America this weekend to "abolish the EU" are for one simple reason: the EU is the only thing that can keep European nation-states from becoming Russian or American vassals.
The US has declared rhetorical war on the EU
The calls from America this weekend to destroy the EU are revealing. They hate the union because it's the only thing that can keep European countries from being Russian or American vassals.
davekeating.substack.com
December 8, 2025 at 8:05 AM
The calls from America this weekend to "abolish the EU" are for one simple reason: the EU is the only thing that can keep European nation-states from becoming Russian or American vassals.
Reposted by Paweł Tokarski
When politicians try to redefine who “owns” a nation’s gold, they can turn it into a tempting populistic tool.
With the 2027 elections on the horizon, that kind of move risks making the country’s gold part of the campaign game instead of keeping it safely above politics.
www.ft.com/content/123c...
With the 2027 elections on the horizon, that kind of move risks making the country’s gold part of the campaign game instead of keeping it safely above politics.
www.ft.com/content/123c...
Giorgia Meloni’s party pushes to declare Italy’s gold ‘property of the people’
Country’s central bank says it owns the reserves to ‘boost confidence’ in its financial system and in the euro
www.ft.com
December 4, 2025 at 8:35 AM
When politicians try to redefine who “owns” a nation’s gold, they can turn it into a tempting populistic tool.
With the 2027 elections on the horizon, that kind of move risks making the country’s gold part of the campaign game instead of keeping it safely above politics.
www.ft.com/content/123c...
With the 2027 elections on the horizon, that kind of move risks making the country’s gold part of the campaign game instead of keeping it safely above politics.
www.ft.com/content/123c...
When politicians try to redefine who “owns” a nation’s gold, they can turn it into a tempting populistic tool.
With the 2027 elections on the horizon, that kind of move risks making the country’s gold part of the campaign game instead of keeping it safely above politics.
www.ft.com/content/123c...
With the 2027 elections on the horizon, that kind of move risks making the country’s gold part of the campaign game instead of keeping it safely above politics.
www.ft.com/content/123c...
Giorgia Meloni’s party pushes to declare Italy’s gold ‘property of the people’
Country’s central bank says it owns the reserves to ‘boost confidence’ in its financial system and in the euro
www.ft.com
December 4, 2025 at 8:35 AM
When politicians try to redefine who “owns” a nation’s gold, they can turn it into a tempting populistic tool.
With the 2027 elections on the horizon, that kind of move risks making the country’s gold part of the campaign game instead of keeping it safely above politics.
www.ft.com/content/123c...
With the 2027 elections on the horizon, that kind of move risks making the country’s gold part of the campaign game instead of keeping it safely above politics.
www.ft.com/content/123c...
Amazing
Data centres are energy hungry but what if we could use their waste heat to heat our homes?
That's exactly what happens in places like Finland: Cities are tapping the vast amounts of waste heat generated by data centres, and feeding it into district-heating networks.
That's exactly what happens in places like Finland: Cities are tapping the vast amounts of waste heat generated by data centres, and feeding it into district-heating networks.
December 3, 2025 at 2:30 PM
Amazing
Reposted by Paweł Tokarski
Listening to #Lagarde in the ECON. TPI (tool for targeted bond purchases) ... "may be activated to counteract unwarranted, disorderly market dynamics."
The problem is that the dynamics of the #French debt market, for example, have been fully justified.
#ECB
The problem is that the dynamics of the #French debt market, for example, have been fully justified.
#ECB
This afternoon, from 14.30 CET, Christine Lagarde, @president.ecb.europa.eu, will participate in the last Monetary Dialogue of 2025 in the @econ.europarl.europa.eu committee.
More information: www.europarl.europa.eu/committees/e...
Livestream: multimedia.europarl.europa.eu/en/webstream...
More information: www.europarl.europa.eu/committees/e...
Livestream: multimedia.europarl.europa.eu/en/webstream...
December 3, 2025 at 1:58 PM
Listening to #Lagarde in the ECON. TPI (tool for targeted bond purchases) ... "may be activated to counteract unwarranted, disorderly market dynamics."
The problem is that the dynamics of the #French debt market, for example, have been fully justified.
#ECB
The problem is that the dynamics of the #French debt market, for example, have been fully justified.
#ECB
This afternoon, from 14.30 CET, Christine Lagarde, @president.ecb.europa.eu, will participate in the last Monetary Dialogue of 2025 in the @econ.europarl.europa.eu committee.
More information: www.europarl.europa.eu/committees/e...
Livestream: multimedia.europarl.europa.eu/en/webstream...
More information: www.europarl.europa.eu/committees/e...
Livestream: multimedia.europarl.europa.eu/en/webstream...
December 3, 2025 at 1:58 PM
Reposted by Paweł Tokarski
Hold on a minute! Wasn't Ukraine supposed to be corrupt?
What message are we sending outside, when the rector of the prestigious College of Europe — the institution that educates future EU officials — ends up in detention?
www.politico.eu/article/belg...
What message are we sending outside, when the rector of the prestigious College of Europe — the institution that educates future EU officials — ends up in detention?
www.politico.eu/article/belg...
EU’s Mogherini and Sannino in custody in fraud probe
European prosecutor says it has “strong suspicions” competition rules were breached in awarding contract to run training academy for diplomats.
www.politico.eu
December 3, 2025 at 12:40 PM
Hold on a minute! Wasn't Ukraine supposed to be corrupt?
What message are we sending outside, when the rector of the prestigious College of Europe — the institution that educates future EU officials — ends up in detention?
www.politico.eu/article/belg...
What message are we sending outside, when the rector of the prestigious College of Europe — the institution that educates future EU officials — ends up in detention?
www.politico.eu/article/belg...
Hold on a minute! Wasn't Ukraine supposed to be corrupt?
What message are we sending outside, when the rector of the prestigious College of Europe — the institution that educates future EU officials — ends up in detention?
www.politico.eu/article/belg...
What message are we sending outside, when the rector of the prestigious College of Europe — the institution that educates future EU officials — ends up in detention?
www.politico.eu/article/belg...
EU’s Mogherini and Sannino in custody in fraud probe
European prosecutor says it has “strong suspicions” competition rules were breached in awarding contract to run training academy for diplomats.
www.politico.eu
December 3, 2025 at 12:40 PM
Hold on a minute! Wasn't Ukraine supposed to be corrupt?
What message are we sending outside, when the rector of the prestigious College of Europe — the institution that educates future EU officials — ends up in detention?
www.politico.eu/article/belg...
What message are we sending outside, when the rector of the prestigious College of Europe — the institution that educates future EU officials — ends up in detention?
www.politico.eu/article/belg...
Reposted by Paweł Tokarski
The National Bank of Poland (NBP) is the only central bank in an EU country to have given Ukraine a hand, opening a swap line for the National Bank of Ukraine up to USD 1 billion straight after Russia invaded.
Under the #ECB’s current legal framework, one conclusion is unavoidable: the central bank of the world’s second-most used currency cannot help Ukraine — not because it won’t, but because it legally can’t.
www.ft.com/content/616c...
www.ft.com/content/616c...
ECB refuses to provide backstop for €140bn Ukraine loan
Central bank rejects role in European Commission proposal that would use frozen Russian assets
www.ft.com
December 2, 2025 at 11:51 AM
The National Bank of Poland (NBP) is the only central bank in an EU country to have given Ukraine a hand, opening a swap line for the National Bank of Ukraine up to USD 1 billion straight after Russia invaded.
The National Bank of Poland (NBP) is the only central bank in an EU country to have given Ukraine a hand, opening a swap line for the National Bank of Ukraine up to USD 1 billion straight after Russia invaded.
Under the #ECB’s current legal framework, one conclusion is unavoidable: the central bank of the world’s second-most used currency cannot help Ukraine — not because it won’t, but because it legally can’t.
www.ft.com/content/616c...
www.ft.com/content/616c...
ECB refuses to provide backstop for €140bn Ukraine loan
Central bank rejects role in European Commission proposal that would use frozen Russian assets
www.ft.com
December 2, 2025 at 11:51 AM
The National Bank of Poland (NBP) is the only central bank in an EU country to have given Ukraine a hand, opening a swap line for the National Bank of Ukraine up to USD 1 billion straight after Russia invaded.
Reposted by Paweł Tokarski
Under the #ECB’s current legal framework, one conclusion is unavoidable: the central bank of the world’s second-most used currency cannot help Ukraine — not because it won’t, but because it legally can’t.
www.ft.com/content/616c...
www.ft.com/content/616c...
ECB refuses to provide backstop for €140bn Ukraine loan
Central bank rejects role in European Commission proposal that would use frozen Russian assets
www.ft.com
December 2, 2025 at 11:42 AM
Under the #ECB’s current legal framework, one conclusion is unavoidable: the central bank of the world’s second-most used currency cannot help Ukraine — not because it won’t, but because it legally can’t.
www.ft.com/content/616c...
www.ft.com/content/616c...
Under the #ECB’s current legal framework, one conclusion is unavoidable: the central bank of the world’s second-most used currency cannot help Ukraine — not because it won’t, but because it legally can’t.
www.ft.com/content/616c...
www.ft.com/content/616c...
ECB refuses to provide backstop for €140bn Ukraine loan
Central bank rejects role in European Commission proposal that would use frozen Russian assets
www.ft.com
December 2, 2025 at 11:42 AM
Under the #ECB’s current legal framework, one conclusion is unavoidable: the central bank of the world’s second-most used currency cannot help Ukraine — not because it won’t, but because it legally can’t.
www.ft.com/content/616c...
www.ft.com/content/616c...
And the search for excuses to not support Ukraine begins.
Ey @tagesspiegel.de , wann hattet Ihr die Titelseite mit "Wie korrupt ist Putin?" oder "Wie korrupt ist Trump?" Merkt Ihr selbst, ja?!
December 2, 2025 at 10:33 AM
And the search for excuses to not support Ukraine begins.
Reposted by Paweł Tokarski
Finland once faced the Soviet Union alone: 3.7 M vs. 170 M people.
Today, even without the US, NATO’s members count around 750 M citizens — yet we still hesitate in fear of Russia.
Today, even without the US, NATO’s members count around 750 M citizens — yet we still hesitate in fear of Russia.
86 years ago soviet union attacked and Winter War started. soviet union thought they can invade Finland in two weeks. Winter War lasted 105 days, we kept our independence, although the price was high. Keeping our democracy has been cornerstone for us as a free nation and who we are today.
December 1, 2025 at 4:05 PM
Finland once faced the Soviet Union alone: 3.7 M vs. 170 M people.
Today, even without the US, NATO’s members count around 750 M citizens — yet we still hesitate in fear of Russia.
Today, even without the US, NATO’s members count around 750 M citizens — yet we still hesitate in fear of Russia.
Finland once faced the Soviet Union alone: 3.7 M vs. 170 M people.
Today, even without the US, NATO’s members count around 750 M citizens — yet we still hesitate in fear of Russia.
Today, even without the US, NATO’s members count around 750 M citizens — yet we still hesitate in fear of Russia.
86 years ago soviet union attacked and Winter War started. soviet union thought they can invade Finland in two weeks. Winter War lasted 105 days, we kept our independence, although the price was high. Keeping our democracy has been cornerstone for us as a free nation and who we are today.
December 1, 2025 at 4:05 PM
Finland once faced the Soviet Union alone: 3.7 M vs. 170 M people.
Today, even without the US, NATO’s members count around 750 M citizens — yet we still hesitate in fear of Russia.
Today, even without the US, NATO’s members count around 750 M citizens — yet we still hesitate in fear of Russia.
Reposted by Paweł Tokarski
RN is again floating the idea of the ECB buying French debt.
The rest of the eurozone will be thrilled to help finance retirement in France at 62.
www.lemonde.fr/politique/ar...
The rest of the eurozone will be thrilled to help finance retirement in France at 62.
www.lemonde.fr/politique/ar...
« Ouvrir une discussion avec la BCE » sur la dette française : les dessous de l’incertain projet de Jordan Bardella
Selon le député du Rassemblement national Jean-Philippe Tanguy, un gouvernement RN pourrait adopter un plan d’économies drastique en échange d’un rachat de la dette française par la Banque centrale eu...
www.lemonde.fr
December 1, 2025 at 10:35 AM
RN is again floating the idea of the ECB buying French debt.
The rest of the eurozone will be thrilled to help finance retirement in France at 62.
www.lemonde.fr/politique/ar...
The rest of the eurozone will be thrilled to help finance retirement in France at 62.
www.lemonde.fr/politique/ar...
RN is again floating the idea of the ECB buying French debt.
The rest of the eurozone will be thrilled to help finance retirement in France at 62.
www.lemonde.fr/politique/ar...
The rest of the eurozone will be thrilled to help finance retirement in France at 62.
www.lemonde.fr/politique/ar...
« Ouvrir une discussion avec la BCE » sur la dette française : les dessous de l’incertain projet de Jordan Bardella
Selon le député du Rassemblement national Jean-Philippe Tanguy, un gouvernement RN pourrait adopter un plan d’économies drastique en échange d’un rachat de la dette française par la Banque centrale eu...
www.lemonde.fr
December 1, 2025 at 10:35 AM
RN is again floating the idea of the ECB buying French debt.
The rest of the eurozone will be thrilled to help finance retirement in France at 62.
www.lemonde.fr/politique/ar...
The rest of the eurozone will be thrilled to help finance retirement in France at 62.
www.lemonde.fr/politique/ar...