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- handle: 10670/1.e8dwtr
- isbn: 978-1-912179-29-9
- halshs: halshs-03230045
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Agnès Bénassy-Quéré et al., « COVID-19: Europe needs a catastrophe relief plan », HAL-SHS : économie et finance, ID : 10670/1.e8dwtr
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Beyond its public health dimension, the unfolding coronavirus epidemic also represents a severe economic stress test for Europe that comes from a totally unexpected side. This time, it is primarily a shock to the real economy hitting all European countries more or less equally (time lags will soon become a footnote). The buffers and firewalls put in place after the global financial crisis and the euro crisis have been designed to fighta different sort of crisis, originating in the financial sector or in a particular sovereign. This time is different.