Summary of An Effective Economic Response to the Coronavirus in Europe

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Robust measures to slow the spread of COVID-19 have come with harsh economic consequences. As the pandemic lockdown continues to close its pincers around global channels of supply and demand, governments need to take decisive action to keep the world open for business while at the same time safeguarding its health. In this cogent briefing, policy experts at Bruegel offer EU officials a response framework that points to a workable way forward for Europe.

About the Authors

Maria Demertzis, André Sapir, Simone Tagliapietra and Guntram B. Wolff are professionals at Breugel, a European think tank.

 

Summary

The coronavirus has had severe and wide-ranging economic effects on the European Union. 

From epidemic to pandemic, COVID-19 has touched all corners of the Earth, and the socioeconomic consequences of lockdowns have affected both supply and demand. In Europe, national health systems are experiencing stresses as never before; the most glaring example has been in Italy. Actions such as sheltering in place, particularly on citywide and regional levels, have created uncertainty in the euro area’s economies. 

Roiled financial markets reflect the devastating effects of the coronavirus on many industries, including travel and tourism, which have been primary targets...


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