Europe’s Welcome Pandemic Response
Although the sudden stop imposed by COVID-19 is having far-reaching consequences for European Union economies, the EU's policy response has already far surpassed its efforts to mitigate past crises. Europe may not be out of the woods yet, but it is clearly on the right path.
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PARIS – The COVID-19 pandemic has hit EU member states hard, and will continue to confront the bloc with significant economic challenges. Yet, from a macroeconomic perspective, Europe’s policy response so far has been encouraging, because it includes strong incentives for sustainable growth, solidarity, and economic stability.