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The fiscal implications of the EU’s recovery package

Alessandro Giovannini (), Sebastian Hauptmeier, Nadine Leiner-Killinger and Vilém Valenta

Economic Bulletin Boxes, 2020, vol. 6

Abstract: The EU’s recovery package represents an important milestone in European economic policy integration. The European financial support to be provided is intended to have a meaningful volume in macroeconomic terms, totalling almost 5% of euro area GDP. Moreover, the allocation key ensures stronger macroeconomic support for more vulnerable countries. This coordinated European policy response to COVID-19 is essential to avoid an uneven recovery and economic fragmentation while promoting economic resilience in Member States. Finally, the way that the EU has responded to the crisis also has implications for the implementation and future design of the European governance framework. JEL Classification: F45, E62, H12

Keywords: coronavirus; Economic and Monetary Union; economic policy integration; fiscal policy (search for similar items in EconPapers)
Date: 2020-09
Note: 1671843
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