Bold policies needed to counter the coronavirus recession

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Publication Date 10/03/2020
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Even before COVID-19 reached Europe, its economy was struggling. Once the outbreak had become an epidemic, a recession in the first half of 2020 was all but certain. This made early and aggressive action to stimulate the economy – and to manage expectations about future stimulus – imperative. Since the virus was so contagious, the rate of infection was likely to peak within three to four months, before falling back, which meant that governments had more certainty than usual about the future path of an economy. If they failed to act, they risked a wave of bankruptcies and rising unemployment. They needed to be bold.

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Eiropean Commission: Temporary Framework for State aid measures to support the economy in the current COVID-19 outbreak

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