Forged in crisis once again: Is Post-Covid Europe on the verge of a fiscal union?
Forged in crisis once again: Is Post-Covid Europe on the verge of a fiscal union?
Author(s): Austėja MakarevičiūtėSubject(s): Governance, Economic policy, Welfare systems, Political economy, Fiscal Politics / Budgeting
Published by: Foreign Policy Research Center
Keywords: Post-Covid Europe; Europe; Pandemia; Fiscal union; EU; Economy;
Summary/Abstract: The combined economic and health shock caused by COVID-19 quickly revealed the asymmetric abilities of the EU member states to deal with the repercussions. While countries like Lithuania, Ireland and Poland suffered fairly mild contractions, some Southern European countries (Italy, Portugal, Spain and Greece) contracted by around 10% in 2020 1 . A GDP fall of 6.8% in the Eurozone 2 was followed by a volatile stock market and increasing sovereign spreads, with coordinated measures urgently needed to escape the crisis.
Journal: Lithuanian Foreign Policy Review
- Issue Year: 2021
- Issue No: 40
- Page Range: 36-39
- Page Count: 4
- Language: English