Europe and the Need for Multilateralism

Improving global governance
Posted Apr 21, 2020 | Institute for New Economic Thinking, Damon Silvers, David Smith, Hans Eichel et al

In its response to the Covid-19 crisis, Europe needs an investment plan that is bold and ambitious and which includes investments in environment, infrastructure and technology. Damon SilversDavid SmithHans Eichel et al suggest in their article for the Institute for New Economic Thinking that this crisis compels Europe to act quickly without leaving matters to Central Banks. Coronabonds, funded by the EU with guarantees from Member States, would enable achievement of different targets, financing unemployment insurance schemes, infrastructure investment or health care related spending, while strengthening the Euro vis-a-vis the US Dollar.  It is also crucial that the USA, China and Europe resolve their differences on markets in vital safety equipment and medical supplies.


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