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Tag Archives: coronavirus

Employment and COVID-19

Testimony before the Economic Affairs Committee at the House of Lords, British Parliament on Employment and COVID-19. By: Guntram B. Wolff Date: September 9, 2020 Topic: European Macroeconomics & Governance On September 8th, 2020 Bruegel’s director Guntram B. Wolff presented testimony before the Economic Affairs Committee at the House of Lords, British Parliament, on the Employment measures put in place to fight the economic crisis following the COVID-19 pandemic.To view the...

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Coronavirus recovery: invest rainy day savings to boost Hong Kong’s economy

The Hong Kong government might want to consider diversifying its economy by using part of the savings earmarked for rainy days. Beyond cushioning the negative impact of Covid-19 on SMEs and households, it is one more reason to spend. This article originally appeared in the South China Morning Post. Hong Kong’s GDP declined by 9 per cent in the second quarter, but this figure should be read in the context of a worldwide collapse in GDP growth during the Covid-19 pandemic. Singapore’s...

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The Challenges of the Post-Pandemic Agenda

This opinion piece has previously been published in Project Syndicate. PARIS – There is a growing possibility that the COVID-19 crisis will mark the end of the growth model born four decades ago with the Reagan-Thatcher revolution, China’s embrace of capitalism, and the demise of the Soviet Union. The pandemic has highlighted the vulnerability of […] PARIS – There is a growing possibility that the COVID-19 crisis will mark the end of the growth model born four decades ago with the...

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Redefining Europe’s role after the Covid-19 Pandemic

By: The Sound of Economics Date: June 25, 2020 Topic: European Macroeconomics & Governance In a special live edition podcast of an event we organised recently with EU3D, we discuss how the current situation brought upon by the pandemic could shift the ‘Conference on the Future of Europe’ debate, whether EU treaty changes are back on on the agenda and what this would imply for the relation of the EU with its closely affiliated non-members. The response to the pandemic throws...

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A tale of two pandemics

The two narratives briefly examined here cast light on different aspects of the EU in the times of Covid-19. Euroskeptic nationalists typically propagate claims of EU failure but have been rather subdued during the pandemic as mainstream governments have taken over their trademark policy of closing borders to foreigners. Nonetheless, the grip on power of several pro-EU mainstream leaders, including President Emmanuel Macron in France, Prime Minister Conte in Italy and Prime Minister Pedro...

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The EU’s recovery fund proposals: crisis relief with massive redistribution

Poorer European Union countries and those hardest hit economically by the COVID-19 crisis could obtain up to 15% of their GNI in grants and guarantees from the EU’s proposed recovery instruments. Yet the proposal would represent a net benefit for all EU countries, even if there is only a small positive economic impact over the long-term. The proposed very long-maturity loans would lead to non-negligible benefits, exceeding 1% of GDP for some countries. When European leaders convene this...

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Has COVID-19 dented the EU’s credibility in the Balkans?

Muddled initial reactions to the COVID-19 crisis tarnished the EU’s image in the Western Balkans. Europe should not take for granted the extent of its influence over its backyard in the face of Chinese and Russian charm offensives. The European Union’s soft power, largely stemming from the attractiveness of its model, could be impaired by COVID-19. The EU’s external influence is strongest in countries that seek to emulate the EU and eventually become members, principally today in the Western...

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Reopening: Europe

This episode provides a background overview of the impact of the reopening of borders on European value chains, future of work, and innovation. By: The Sound of Economics Date: June 11, 2020 Topic: European Macroeconomics & Governance Since the end of May and throughout the month of June, many European countries have lifted or loosened lockdown measures set in place to fight the spread of the coronavirus. One of the last measures still in place is the closure of international...

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Three-quarters of Next Generation EU payments will have to wait until 2023

Because of hurdles in designing, approving and implementing European Union programmes, less than a quarter of the €438 billion in grants planned under the new EU recovery instruments is expected to be spent in the next two and a half years, when recovery needs will be greatest. Well-functioning financial markets can help bridge the gap between urgent spending needs and late-arriving EU disbursements, but more effort is needed to frontload EU payments. The falling government bond yields of...

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