15th June 2020
Aberdeen Standard: Where to next for the Eurozone
The economic and health impacts of coronavirus have not been distributed equally across the Eurozone. In particular, peripheral countries such as Italy have been hit hardest in human and economic terms. This has reopened old fault lines between member states about a shared fiscal policy to offset negative shocks, and once again placed a disproportionate burden on the European Central Bank (ECB) to provide policy support. This note assesses the Eurozone’s existing crisis-fighting tools, the policy steps that have already been taken in this crisis to cushion the blow to economies, the options remaining on the table, and alternative policy paths available for the Eurozone in the medium term.
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