Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

Macro and Geopolitical Research House

Political Analyst | Steno Research, Steno Research

Anne Sandager

Political Analyst | Steno Research

Cross Asset Strategy

Multiple Countries / Cross Asset Strategy

<ul><li>In November 2023, Germany’s constitutional court made a landmark ruling that had significant implications for the country’s budget and investment in green initiatives.</li><li>The court ruled against the government’s plan to reallocate €60 billion in unused pandemic emergency funds to its Climate and Transformation Fund (KTF), deeming this move unconstitutional.</li><li>This decision came at a critical time when Germany, Europe’s largest economy, was already facing an economic slow down.</li></ul>

In November 2023, Germany’s constitutional court made a landmark ruling that had significant implications for the country’s budget and investment in green initiatives.The court ruled against the government’s plan to reallocate €60 billion in unused pandemic emergency funds to its Climate and Transformation Fund (KTF), deeming this move unconstitutional.This decision came at a critical time when Germany, Europe’s largest economy, was already facing an economic slow down.

Policy Watch: The German ‘Debt Brake’ on EU Green Tech Ambitions