Author: Philip von Brockdorff

The COVID-19 pandemic has impacted our economy, along with other countries around the world. On its part, the European Commission responded to this crisis with a wide-ranging package of instruments aimed at softening the blow of this exogenous shock. This included a Pandemic Crisis Support instrument via the European Stability Mechanism (ESM), temporary loans to fund national short-term work schemes and similar measures in order to safeguard jobs within EU member states, as part of the SURE initiative. For its part, the European Investment Bank (EIB) provided liquidity support to businesses. More importantly, the EU agreed on a €750 billion…

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