The European Union’s Response to the Coronavirus Emergency: An Early Assessment

LSE ‘Europe in Question’ Discussion Paper Series No. 157, June 2020

36 Pages Posted: 15 Jun 2020

See all articles by Tobias Tesche

Tobias Tesche

University of Amsterdam; European Central Bank

Date Written: June 11, 2020

Abstract

This article provides an assessment of the EU institutions’ response to the coronavirus pandemic. It contends that it followed the new intergovernmental tendency to empower de novo bodies like the European Stability Mechanism, the European Investment Bank and the European Central Bank. The European Central Bank’s early and unconstrained action structured European politics. Its pandemic emergency purchase programme ensured that euro area member states were able to maintain market access and lowered the financial attractiveness of the subsequently created instruments to tackle the corona crisis. The European Commission was relegated to the role of ‘cheerleader of European solidarity’. It partially redeemed itself by creating a new temporary loan-based instrument to support national short-term work schemes and by proposing a large-scale recovery instrument termed ‘Next Generation EU’.

Keywords: Coronavirus crisis, pandemic emergency politics, COVID-19, euro area, EU

Suggested Citation

Tesche, Tobias, The European Union’s Response to the Coronavirus Emergency: An Early Assessment (June 11, 2020). LSE ‘Europe in Question’ Discussion Paper Series No. 157, June 2020, Available at SSRN: https://ssrn.com/abstract=3624730 or http://dx.doi.org/10.2139/ssrn.3624730

Tobias Tesche (Contact Author)

University of Amsterdam ( email )

Roetersstraat 11
Amsterdam, NE 1018 WB
Netherlands

European Central Bank

Sonnemannstrasse 22
Frankfurt am Main, 60314
Germany

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