Europe Is Unprepared for the COVID-19 Recession

Mar 18, 2020

„If there is one European body that has consistently demonstrated its lack of fitness for managing economic crises, it is the Eurogroup of eurozone finance ministers. True to form, it will respond to the COVID-19 crisis with heroic announcements heralding impressive numbers that disguise the irrelevance and timidity of the agreed policies.“ (…)

„We have a duty to enlighten citizens about how, even in our liberal democracies, decisions are routinely made in their name, against their interests, and without their knowledge by functionaries who loathe democracy even as they pretend to defend it. If we fail, the EU’s decisions, especially during this pandemic, on fiscal policy, green investment, health, education, and migration policy are bound to be as ineffective as those that magnified the euro crisis ten years ago. „ (…)

https://www.project-syndicate.org/commentary/eurogroup-finance-ministers-misunderstand-covid19-crisis-by-yanis-varoufakis-2020-03?utm_source=Project+Syndicate+Newsletter&utm_campaign=0868dbcd99-sunday_newsletter_22_03_2020&utm_medium=email&utm_term=0_73bad5b7d8-0868dbcd99-106440339&mc_cid=0868dbcd99&mc_eid=4ddf8a88ec