A proposal for a Covid credit line
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
VOXEU Article, 2020, [RSCAS], [ECO]
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] - http://hdl.handle.net/1814/66681
Retrieved from Cadmus, EUI Research Repository
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.
Published on 21 March 2020
Cadmus permanent link: http://hdl.handle.net/1814/66681
External link: https://voxeu.org/article/proposal-covid-credit-line
Series/Number: VOXEU Article; 2020; [RSCAS]; [ECO]
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