Experts & Staff

Sebastian Dullien

ECFR Alumni · Senior Policy Fellow

Areas of expertise

European integration; financial market regulation


English and German


Sebastian Dullien was a senior policy fellow at the European Council on Foreign Relations. His research focused on European integration, international macroeconomics, and financial market regulation. 

Dullien is a professor of International Economics at HTW Berlin, the University of Applied Sciences. He has worked as a consultant and expert for many different political foundations and sub-organisations of the United Nations, and he has testified in front of several committees of the German Bundestag and the European Parliament. From 2000 to 2007, Dullien worked as a journalist for Financial Times Deutschland, the German-language edition of the FT. He first worked as a leader writer and then moved to the Economics desk. From 2002 to 2007 he was responsible for the paper’s coverage of the global, European, and German business cycles as well as developments in German academic economics. Dullien writes a monthly column in the German magazine, Capital and is a regular contributor to Spiegel Online. He writes occasional op-eds for a number of other German publications. His recent book, Decent Capitalism (co-authored with Hansjörg Herr and Christian Kellermann, 2011), provides a blueprint for a better-regulated and more stable capitalism after the crisis. An earlier German version (Der gute Kapitalismus) has been widely discussed in Germany.

Three Elements for a European Recovery Strategy

Growth will not be created with marginal policy measures – we need a fundamental change of the current policy mix. An end to extreme austerity, more public investment and a reform of the financial system must be at the core of a EU growth strategy.  

Two dangerous myths about a ‘Grexit’

Two myths about a Greek exit from the euro have recently gained traction. Both are misguided and both are extremely dangerous. Here are the reasons why.  

Reinventing Europe: Explaining the Fiscal Compact

How does the Fiscal Compact shape fiscal policy and austerity in the euro area and what can be done to make austerity in Europe less brutal? The development of a meaningful 'Growth Compact' may provide the best way forward.  

Why Berlin is fixed on a German solution to the eurozone crisis

Understanding how Berlin thinks is now more important than ever. If EU leaders want Angela Merkel to listen to calls for growth, they first need to understand her economic mindset which is deeply rooted in a concept known as 'ordoliberalism'.  

The economics of the summit: an expensive signal to the ECB

The only real success of the euro summit was that it might encourage the ECB to step up its role in the euro area. But years more austerity and a major rift with Britain are a high price the whole euro zone will have to pay for German ideology.  

The euro summit: think twice before you celebrate

The reaction of both the markets and politicians suggests that the latest euro summit has been a success. But the outcome is unlikely to end the euro crisis, and parts of it might actually make it worse.  



Can the European Union find a stable equilibrium?

Giving up sovereignty at the national level seems the only way to retain some kind of European sovereignty,  writes Sebastian Dullien in his farewell commentary for ECFR

No right without might

Europeans still indulge in the myth of economic influence without military strength. But their soft power approach will fail without hard weapons

Trump’s poisoned TTIP chalice

The prospect of reopening trade talks with the US puts the European Union in an invidious position

Britain Steps Into a Deglobalising World

The trend for integration of global markets has softened and might soon even revert, which will force nation-states to rethink their trade strategies


In the media