The COVID-19 pandemic has generated joint European initiatives but has also stirred up a debate regarding the appropriate economic policy response. While the pandemic shock has been symmetric, EU member states have been affected in an asymmetric manner. Efforts to reach decisions at the European Council and Eurogroup have been thwarted by disagreements, and crucial decisions have been further deferred.
At this writing, the European Commission has been tasked with formulating the specifics of a European Recovery Fund and is supposed to deliver its proposals by May 6. The exact funding modalities of this new financial instrument, its overall size and composition, its relationship with the Multiannual Financial Framework (MFF) and the extent to which the latter will be reconfigured are currently being discussed.
This new appointment of the MED 120-minute Zoom dialogues enabled a small group of parliamentarians to explore the current debate on COVID-19 EU economic recovery plans and in particular:
- Why is this debate so significant now? What are the broader implications and political underpinnings of this debate?
- Does the urgency of preventing an irreversible slide of the single market towards disintegration necessitate extraordinary decisions?
- How can the Eurozone tackle the economic and financial fallout of the coronavirus crisis?
George Pagoulatos, Director General of ELIAMEP; Professor, Athens University of Economics and Business and Visiting Professor, College of Europe and Adriaan Schout, Senior Research Fellow at Clingendael and Professor of European Public Administration at the Faculty of Management Sciences of Radboud University in Nijmegen participated at the Dialogue.
As a response to the current crisis, the Mercator European Dialogue, is launching its new MED 120 format. 120 minutes for facilitated online dialogue among members of parliament and a policy deep dive enriched with condensed and highly specialised expert insights.