Crisis management and the sharing of catastrophic risks

Abstract

Europe may be made by crisis, but that does not mean the impact of crisis management is the same everywhere. On the contrary, the implications are often very different, depending on the wealth of national endowments, the strength of public finances, and the quality of public administration. Nowhere is this truer than in the massive efforts required for the digital and green transition coming in the wake of the COVID-19 pandemic and the war in Ukraine. In the course of dealing with permanent crisis, the EU has developed a number of policy schemes to back up member states in their national responses. This panel will discuss whether these schemes amount to a system of reinsurance and the lessons to be drawn from its achievements and failures for even bigger challenges, such as climate change and geopolitical conflict.