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The EU responds to the coronavirus: déjà vu all over again?

by Vivien Schmidt on 23rd March 2020

The European Union must manifest real solidarity in response to the coronavirus crisis. Muddling through will not do.

EU fiscal framework, fiscal rules, Maastricht rules, Stability and Growth Pact

Coronavirus crisis: now is the hour of Modern Monetary Theory

by Peter Bofinger on 23rd March 2020

Peter Bofinger argues MMT provides intellectual justification for a ‘whatever it takes’ fiscal response to potentially the biggest global postwar economic challenge

unemployment

Welcome but inadequate: European measures to counter the corona crisis

by Andrew Watt on 20th March 2020

More monetary-policy easing is still a one-club approach—fiscal support is also needed at EU level.

new normality

Europe under quarantine

by Javier López on 20th March 2020

The coronavirus crisis has exposed the shared vulnerability of Europe’s interdependence. Time to turn that into a strength.

global taxation,BEPS,MNCs

The Covid-19 debt deluge

by Jayati Ghosh on 19th March 2020

The Covid-19 crisis may have set the stage for a debt meltdown long in the making, starting in the Asian economies on the front lines.

Here we go again: Europe’s inability to face the coronavirus crisis

by Mario Pianta and Matteo Lucchese on 19th March 2020

The spread of Covid-19 has called into question—once again—the frailties of the European Union.

payer of last resort

Keeping business alive: the government will pay

by Emmanuel Saez and Gabriel Zucman on 18th March 2020

To prevent the coronavirus shock to demand precipitating a long-lasting depression, government needs to become short-term payer of last resort.

Covid-19 co-ordinated action

Covid-19 is an opportunity for Europe

by Lucrezia Reichlin on 17th March 2020

The EU has always advanced on the back of crises. The Covid-19 outbreak represents a chance to pools resources towards a co-ordinated fiscal policy.

right-wing nationalism

The corona crisis will define our era

by Karin Pettersson on 16th March 2020

Karin Pettersson writes that the pandemic has highlighted the frailties of a short-sighted and hyper-individualistic social system.

SARS-CoV China animal welfare

Preventing the next virus outbreak

by Michal Rotem on 16th March 2020

The coronavirus is not a natural disaster but the outcome of a system of agriculture subordinating animal, and human, welfare.

prorities, Covid-19 economy

Plagued by Trumpism

by Joseph Stiglitz on 12th March 2020

For 40 years, US Republicans have been insisting that ‘government is not the solution to our problem; government is the problem’. The bankruptcy of this has been laid bare.

pandemic

The economic effects of a pandemic

by Simon Wren-Lewis on 10th March 2020

The human effects of the coronavirus are paramount. But what will be its impact on a medium-sized economy such as that of the UK?

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Hans Böckler Stiftung Advertisement

The macroeconomic effects of the EU recovery and resilience facility

This policy brief analyses the macroeconomic effects of the EU's Recovery and Resilience Facility (RRF). We present the basics of the RRF and then use the macroeconometric multi-country model NiGEM to analyse the facility's macroeconomic effects. The simulations show, first, that if the funds are in fact used to finance additional public investment (as intended), public capital stocks throughout the EU will increase markedly during the time of the RRF. Secondly, in some especially hard-hit southern European countries, the RRF would offset a significant share of the output lost during the pandemic. Thirdly, as gains in GDP due to the RRF will be much stronger in (poorer) southern and eastern European countries, the RRF has the potential to reduce economic divergence. Finally, and in direct consequence of the increased GDP, the RRF will lead to lower public debt ratios—between 2.0 and 4.4 percentage points below baseline for southern European countries in 2023.


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ETUI advertisement

Benchmarking Working Europe 2020

A virus is haunting Europe. This year’s 20th anniversary issue of our flagship publication Benchmarking Working Europe brings to a growing audience of trade unionists, industrial relations specialists and policy-makers a warning: besides SARS-CoV-2, ‘austerity’ is the other nefarious agent from which workers, and Europe as a whole, need to be protected in the months and years ahead. Just as the scientific community appears on the verge of producing one or more effective and affordable vaccines that could generate widespread immunity against SARS-CoV-2, however, policy-makers, at both national and European levels, are now approaching this challenging juncture in a way that departs from the austerity-driven responses deployed a decade ago, in the aftermath of the previous crisis. It is particularly apt for the 20th anniversary issue of Benchmarking, a publication that has allowed the ETUI and the ETUC to contribute to key European debates, to set out our case for a socially responsive and ecologically sustainable road out of the Covid-19 crisis.


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Eurofound advertisement

Industrial relations: developments 2015-2019

Eurofound has monitored and analysed developments in industrial relations systems at EU level and in EU member states for over 40 years. This new flagship report provides an overview of developments in industrial relations and social dialogue in the years immediately prior to the Covid-19 outbreak. Findings are placed in the context of the key developments in EU policy affecting employment, working conditions and social policy, and linked to the work done by social partners—as well as public authorities—at European and national levels.


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Foundation for European Progressive Studies Advertisement

Read FEPS Covid Response Papers

In this moment, more than ever, policy-making requires support and ideas to design further responses that can meet the scale of the problem. FEPS contributes to this reflection with policy ideas, analysis of the different proposals and open reflections with the new FEPS Covid Response Papers series and the FEPS Covid Response Webinars. The latest FEPS Covid Response Paper by the Nobel laureate Joseph Stiglitz, 'Recovering from the pandemic: an appraisal of lessons learned', provides an overview of the failures and successes in dealing with Covid-19 and its economic aftermath. Among the authors: Lodewijk Asscher, László Andor, Estrella Durá, Daniela Gabor, Amandine Crespy, Alberto Botta, Francesco Corti, and many more.


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Social Europe Publishing book

The Brexit endgame is upon us: deal or no deal, the transition period will end on January 1st. With a pandemic raging, for those countries most affected by Brexit the end of the transition could not come at a worse time. Yet, might the UK's withdrawal be a blessing in disguise? With its biggest veto player gone, might the European Pillar of Social Rights take centre stage? This book brings together leading experts in European politics and policy to examine social citizenship rights across the European continent in the wake of Brexit. Will member states see an enhanced social Europe or a race to the bottom?

'This book correctly emphasises the need to place the future of social rights in Europe front and centre in the post-Brexit debate, to move on from the economistic bias that has obscured our vision of a progressive social Europe.' Michael D Higgins, president of Ireland


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