Three ways COVID-19 will cause economic divergence in Europe

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Publication Date 21/05/2020
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COVID-19 is not a ‘symmetric’ shock to Europe’s economy. The economic costs of lockdowns, and the continued social distancing measures that follow them, will be different across countries and regions. And some governments are better able to offset the costs of these measures than others – and to stimulate their economies once the virus is under control. Further economic divergence is bad in and of itself. But it will also make European politics even more fractious. Slow growth in some regions provides fertile ground for the far right and left, and undermines the appeal of the EU as a ‘convergence machine’.

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European Commission Secretariat General: Proposal for a Regulation establishing a Recovery and Resilience Facility
Cardiff EDC: European reaction to the outbreak of Coronavirus (COVID-19)

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