Europe to face urgency through unity and solidarity
The Covid-19 crisis requires a historic mobilization of the Member States and the EU in terms of governance
In the current times that the world is going through, a historic mobilization of the States and of the European Union in terms of governance, determination and resources is fundamental. With more than half of the global population in confinement, no one will be able to fight and overcome the economic challenge alone.
Faced with this scenario, the member states of the European Union have quickly put in place emergency measures to meet the liquidity needs of companies that are stopped or closed.
For its part, the ECB immediately activated up to an additional 750,000 million euros to allow substantial buybacks of bonds and in this way contribute to the liquidity of the companies.
However, it is necessary to go further to end the crisis and soon relaunch the industrial base and the single market from each nation. For this reason each Member State should design a plan to safeguard and evaluate its economy, but to face at such shock it is necessary to acquire an additional debt.
When creating a strategy that protects the economy of those affected countries, it is essential to take into account three principles: we must not neglect any country, no economy can be an isolated victim of the pandemic and all partners must have equitable access under conditions comparable to the debt necessary to finance its plans.
K.Villarroel
Source: elmundo
