CORONAVIRUS: NAVIGATING A NEW STORM WITH AN OLD BOAT?

Together with Irina De Sancho, Senior Political Advisor on Employment and Social Policy at the European Parliament I published a response paper explaining how the fiscal and financial architecture of the EU should be changed, in order to protect the rights of citizens and the social welfare state in situations of economic crisis.

 

We have analysed how the financial reforms undertaken by the EU after the 2008 crisis have legally and financially limited the State in its ability to intervene in many areas as well as raising barriers to its protective role.

 

The macroeconomic and financial architecture that was implemented subsequently placed the financial system and macroeconomic stability on the highest pedestal of European objectives, according less importance to social objectives.

 

Given the current crisis caused by the COVID-19 pandemic, social rights and welfare systems need to be put at the forefront of public policy in Europe. In the essay, we outline what type of mechanisms are necessary for the EU to be the overarching protector of peace, stability and the wellbeing of citizens.

 

Read the entire article here.

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