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  • Author: Stefano Manservisi
  • Publication Date: 04-2020
  • Content Type: Special Report
  • Institution: Istituto Affari Internazionali
  • Abstract: As the Coronavirus pandemic expands, and peak contagion remains uncertain, policy responses are gradually emerging, being implemented in a number of domains. The crisis has several important implications, but two are currently dominating the headlines: individual health and the sustainability of national healthcare systems, and the economic fallout from the pandemic.
  • Topic: International Cooperation, Finance, International Development, Development Aid, Coronavirus
  • Political Geography: Africa, Europe, Global Focus
  • Author: Alessandro Marrone, Ottavia Credi
  • Publication Date: 04-2020
  • Content Type: Special Report
  • Institution: Istituto Affari Internazionali
  • Abstract: The crisis caused by the COVID-19 pandemic will have consequences on every aspect of the European societies, including the defence sector. The extent to which it will impact the military budgets is heavily discussed, with optimists trusting in slightly decreased investments and pessimists anticipating severe downturns. The fulfilment of NATO capability goals will be at stake, while allies will bring further diversified security needs to the Alliance’s agenda. The EU will have to cope with both pandemic and economic recession for the sake of its own security and stability, without sacrificing the European Defence Fund which could rather be part of a EU-wide plan for industrial and economic re-launch. This report summarizes the main findings of the IAI webinar hold on 8 April 2020 and participated by 22 experts and practitioners from Italy and other European countries.
  • Topic: Defense Policy, NATO, Military Spending, Transatlantic Relations, Coronavirus, Defense Industry
  • Political Geography: Europe, European Union
  • Author: Sebastian Płóciennik
  • Publication Date: 03-2020
  • Content Type: Special Report
  • Institution: The Polish Institute of International Affairs
  • Abstract: The prospect of dire economic repercussions from the coronavirus pandemic has prompted the German government to expand its intervention tools. The latest package puts the emphasis on helping the smallest companies and self-employed, offering more loan guarantees, as well as the possibility of temporary state purchases of shares in companies. The crisis is a challenge for fiscal policy—it will lead to a large deficit in public finances and to rising pressure on the German government to accept joint financial measures in the eurozone.
  • Topic: Government, Health, Fiscal Policy, Coronavirus
  • Political Geography: Europe, Germany
  • Author: Damian Wnukowski, Marek Wasinski
  • Publication Date: 04-2020
  • Content Type: Special Report
  • Institution: The Polish Institute of International Affairs
  • Abstract: The coronavirus pandemic and efforts to suppress it (the Great Lockdown) will lead to the collapse of the global economy. In the short term, the reduction in production and consumption in the countries most affected by the pandemic will lead to a global recession. In the long run, the crisis may result in a partial retreat from globalisation, higher indebtedness, and narrowing the differences in economic potential between the EU and the U.S., and China. A positive side effect may be the acceleration of the development of the digital economy, including the services market.
  • Topic: European Union, Economy, Global Financial Crisis, Coronavirus, Pandemic
  • Political Geography: China, Europe, North America, Global Focus, United States of America
  • Author: Barry Eichengreen
  • Publication Date: 04-2020
  • Content Type: Special Report
  • Institution: Al Jazeera Center for Studies
  • Abstract: What kind of economic recovery from the Covid-19 crisis should we expect? Attempts to answer this question must start by acknowledging an unusually high degree of uncertainty about the immediate future. There is uncertainty about the recurrence of the virus, about how policy makers will balance public health and economic goals, and about the ability of governments to ramp up their capacity to test, trace and isolate the infected, thereby making it safe for others to return to work. Further sources of uncertainty include the behavioral responses of households and investors, the sustainability of the extraordinary monetary and fiscal policies adopted in response to the crisis, and the extent to which economic organization will change in the new public-health environment. These aspects of the current crisis and their contrasts with crises past suggest that recovery from the Covid-19 crisis will be bumpy, subdued and above all uncertain, and that it will differ in Europe and the United States.
  • Topic: Crisis Management, Coronavirus, COVID-19
  • Political Geography: Europe, Global Focus, United States of America