Taking the challenge: A joint European policy response to the corona crisis to strengthen the public sector and restart a more sustainable and social Europe

Jo Ritzen (), Javi Lopez (), Andre Knottnerus (), Salvador Perez Moreno (), George Papandreou and Klaus Zimmermann ()
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Jo Ritzen: UNU-MERIT, Maastricht University
Javi Lopez: European Parliament
Andre Knottnerus: Maastricht University
Salvador Perez Moreno: UNU-MERIT, Maastricht University, and University of Malaga
George Papandreou: Greek Parliament
Authors registered in the RePEc Author Service: Salvador Pérez-Moreno

No 2020-015, MERIT Working Papers from United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT)

Abstract: Towards the end of 2020 the economies of many EU countries will be in serious disarray due to the corona crisis. In the attempt to regain employment and production, EU member state governments will be tempted to fall back into the 'old normal' - over the thorny alternative of employing a policy of 'creative destruction'. Here we argue in favour of a more visionary strategy to achieve sustainability and to further a social Europe with a stronger public sector. A strong Europe is the solution and not the problem for the future of the continent. EU cooperation implies joint Euro area monetary funding (ECB) and joint Euro area borrowing (ESM or otherwise), but only conditional on strong commitments for sustainable development, an improvement of the public sector, joint taxation as well as for sound fiscal behaviour.

Keywords: Corona crisis; Europe; employment; economic development; environmental sustainability; social Europe; education; health; ECB; sovereign long-term interest rates; conditionalities; taxation (search for similar items in EconPapers)
JEL-codes: E43 E62 F18 F23 F30 G15 H25 H63 H74 H87 I00 I25 J20 O38 O40 O43 O44 O52 Q58 R30 (search for similar items in EconPapers)
Date: 2020-04-21
New Economics Papers: this item is included in nep-gen and nep-mac
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Citations: View citations in EconPapers (1)

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