The coronavirus crisis has led to the sharpest economic downturn in modern times. The pandemic poses challenges to policy both on a national and international level. The ongoing situation is fraught with uncertainty and no clear conclusions can be drawn about how long it will last, how the virus will evolve or how widely it will continue to spread.
The European Union has launched the Next Generation EU (NGEU) program, which involves common burden-sharing and explicitly aims to strengthen social cohesion within the European Union. If it succeeds, the program will strengthen both the role of the European Union and cohesion among member states.
This year's EEAG Report on the European Economy examines how the erosion of capital can be prevented, with a focus on social, human and business aspects. The panel of economists explores how the current crisis is affecting existing structures and makes recommendations about the investments that are needed. They examine how childcare, education, environment and businesses can secure future prosperity and inclusion, in line with the goals of the NGEU program. As in previous years, the report contains an in-depth macroeconomic analysis for selected countries and the European and global economy. It also includes an economic forecast for the current year.
► Andersen T. M., Bertola G. Fuest, C., Garcia-Peñalosa C., James H., Sturm J-E., Uroševic B. 2021, Beyond the Coronavirus Crisis: Investing for a Viable Future, EEAG Report on the European Economy 2021.