Open Access
A proposal for a Covid credit line
License
Cadmus Permanent Link
Full-text via DOI
ISBN
ISSN
Issue Date
Type of Publication
Keyword(s)
LC Subject Heading
Other Topic(s)
EUI Research Cluster(s)
Initial version
Published version
Succeeding version
Preceding version
Published version part
Earlier different version
Initial format
Citation
VOXEU Article; 2020; [RSCAS]; [ECO]
Cite
BÉNASSY-QUÉRÉ, Agnès, BOOT, Arnoud, FATÁS, Antonio, FRATZSCHER, Marcel, FUEST, Clemens, GIAVAZZI, Francesco, MARIMON, Ramon, MARTIN, Philippe, PISANI-FERRY, Jean, REICHLIN, Lucrezia, SCHOENMAKER, Dirk, TELES, Pedro, WEDER DI MAURO, Beatrice, A proposal for a Covid credit line, VOXEU Article, 2020, [RSCAS], [ECO] - https://hdl.handle.net/1814/66681
Abstract
It is in the interest of every EU member state that countries in the Union hit by the coronavirus are able to take the necessary measures to control the pandemic and deal with the economic consequences without being constrained, and to do so very quickly. This column proposes a Covid credit line in the European Stability Mechanism, with allocation across member states proportionate to the severity of the public health and economic challenges encountered. While it would involve some coordination and solidarity among member states, the dedicated credit line would reduce risks to economic and financial stability for all while allowing members to sustain their efforts by making their borrowing costs less dependent on individual fiscal situations.
Table of Contents
Additional Information
Published on 21 March 2020