Download This PaperThe EU Policy Response to the Current Pandemic Crisis through the Lens of the Eurogroup Report of 9 April 2020: Overview and Assessment (Cut-Off Date: 14 April 2020)
21 Pages Posted: 21 Apr 2020
Date Written: April 14, 2020
Abstract
The purpose of this article is to briefly overview the Eurogroup Report of 9 April 2020 “on the comprehensive economic policy response to the COVID-19 pandemic” and assess its content. It is structured in 5 Sections: after the introductory remarks (in Section I), the coordinated actions taken until the Report’s publication are briefly reviewed in Section II, including measures taken by Members States, the (European) Commission, the European Central Bank and the European Banking Authority. Section III deals with the additional crisis response instruments, as proposed by the Commission, the European Investment Bank and the Eurogroup itself, as well the measures planned for preparing the ground for recovery. Section IV presents some further commitments undertaken by the Eurogroup and Section V contains the assessment.
Keywords: solidarity, EU fiscal stimulus, EU budget, general escape clause of the EU fiscal framework, Coronavirus Response Investment Initiatives (CRII), European Union Solidarity Fund (EUSF), Eurosystem, Single Supervisory Mechanism (SSM), European Banking Authority (EBA), European Investment Bank (EIB), Em
JEL Classification: E42, E43, E44, E51, E52, E58, F33, F36, F55, G21, G23, G28, K10, K23, K33, N14, N24
Suggested Citation: Suggested Citation
European Banking Institute
Frankfurt
Germany