- Celi, Giuseppe ; Guarascio, Dario ; Simonazzi, Annamaria. A fragile and divided European Union meets Covid-19: further disintegration or ‘Hamiltonian moment’? / Journal of Industrial and Business Economics (2020).
Despite being symmetric in its very nature, the Covid-19 shock is affecting European economies in a very asymmetric way, threatening to deepen the divide between core and peripheral countries even more. It is not Covid-19 itself, however, but the contradictions within the EU’s growth model and institutional architecture that would be to blame for such an outcome. The dramatic impact of the economic crisis brought on by the pandemic and the threat that it poses to Eurozone survival seem to have forced a reluctant Germany into action: a minor step, but an important signal. This note analyses the crossroads currently facing Europe—the risk of disintegration vis-a-vis the opportunity for a ‘Hamiltonian moment’—discussing possible future scenarios in the light of past developments. (Open access)
- Dermine, Paul ; Markakis, Menelaos, The EU Fiscal, Economic and Monetary Policy Response to the COVID-19 Crisis // EU Law Live, Weekend Edition (2020) nr 11, lk. 7-14.
In this contribution, we assess the main measures, already taken or currently contemplated by the EU, in reaction to the COVID-19 crisis to mitigate its impact on Eurozone economies. The discussion begins with the recent monetary policy decisions taken by the ECB (1). The focus then shifts to the strategy deployed on the economic and fiscal side. We analyze (2) the coordination of national fiscal responses and their accommodation under the rules of the Stability and Growth Pact, (3) the role of the European Stability Mechanism, and (4) joint debt instruments.
Engelen, Klaus C. Europe's Covid-19 Battle // International Economy (2020) nr 2, lk. 12-15.
The article focuses on efforts of Europe against the COVID-19 pandemic. Topics discussed include unprecedented Covid-19 lockdown in Germany, German Chancellor Angela Merkel's success as a crisis manager during the pandemic and Italian Prime Minister Giuseppe Conte and Spanish Prime Minister Pedro Sánchez put the stakes of coping with the coronavirus pandemic even higher. Business Source Complete (EBSCO)
- European Journal of Risk Regulation. Special Issue: Taming COVID-19 By Regulation
COVID-19 represents not only one of the greatest natural and economic disasters in human history, but also a rich case study of government’s emergency response. As such, it is a test bed for risk research and regulatory theories in a world increasingly shaped by transboundary, uncertain manufactured and natural risks.
While it is obviously too early to come to definitive conclusions, the contributions collected – in record-time – in this special issue of the European Journal of Risk Regulation attempt at providing an initial analysis of the surprisingly uncoordinated, at times unscientific, response to an essentially foreseeable event like a novel coronavirus (nCoV) in a geopolitically shattered world.
- Fernandes, Nuno. Economic Effects of Coronavirus Outbreak (COVID-19) on the World Economy // SSRN, 2020.
This report discusses the economic impact of the Coronavirus/COVID-19 crisis across industries, and countries. It also provides estimates of the potential global economic costs of COVID-19, and the GDP growth of different countries. The current draft includes estimates for 30 countries, under different scenarios.
- Goniewicz, Krzysztof et al. Current Response and Management Decisions of the European Union to the COVID-19 Outbreak: A Review // Sustainability (2020)
COVID-19 has proven to be a formidable challenge for many countries in the European Union to manage effectively. The European Union has implemented numerous strategies to face emerging issues. Member States have adopted measures such as the closure of borders and significant limitations on the mobility of people to mitigate the spread of the virus. An unprecedented crisis coordination effort between Member States has facilitated the ability to purchase equipment, personal protective equipment, and other medical supplies. (DOAJ: Directory of Open Access Journals)
- Heimberger, Philipp. Potential Output, EU Fiscal Surveillance and the COVID-19 Shock // Intereconomics (2020) nr. 3, lk. 167-174.
This paper discusses how the technical foundations of the EU’s fiscal rules constrain the fiscal space in EU countries in the context of the COVID-19 pandemic. We review the evidence on how estimates of potential output, which are at the heart of essential control indicators in EU fiscal surveillance, were revised in the ten years running up to the COVID-19 pandemic, and how these revisions affected the fiscal stance of EU countries. We provide first evidence for downward revisions in the European Commission’s potential output estimates against the background of the COVID-19 shock across the EU27 countries, and we assess the potential consequences in terms of fiscal space. According to our results, one additional percentage point in predicted losses of actual output is associated with a loss in potential output of about 0.6 percentage points. Given the importance of model-based estimates in the EU’s fiscal rules, avoiding pro-cyclical fiscal tightening will require that policymakers’ hands are not tied by overly pessimistic views on the development of potential output.
- Italian Labour Law e-Journal. Special Issue: Covid-19 and Labour Law. A Global Review (2020) nr. 15.
This special issue of the Italian Labour Law e-Journal intends to provide a systematic and informative overview on the measures set out by lawmakers and/or social partners in a number of countries of the world to address the impact on the Covid-19 emergency on working conditions and business operations. The aim is to understand which labour law norms and institutions and which workplace arrangements are being deployed in the different legal systems to tackle the global health crisis. Another aim is to find whether and to what extent the established body of laws is proving able to cope with the problems raised by the current extraordinary situation or whether, on the contrary, new special regulations are being introduced. The national reports may be subject to updating in case of major changes.
- van Kolfschooten, Hannah ; de Ruijter, Anniek. COVID-19 and privacy in the European Union: A legal perspective on contact tracing // Contemporary Security Policy (2020) nr 3, lk. 478-491.
When disease becomes a threat to security, the balance between the need to fight the disease and obligation to protect the rights of individuals often changes. The COVID-19 crisis shows that the need for surveillance poses challenges to the right of privacy. We focus on the European Union (EU), which has a strong data protection regime yet requires its member states to exchange personal data gathered through contact tracing. While public authorities may limit the right to privacy in case of public health threats, the EU provides little guidance when such limitations are proportionate. To define standards, we analyze existing EU case law regarding national security measures. We conclude that on the proportionality of contact tracing in the EU it is difficult to reconcile public health measures and individual rights, but guidance can be taken from understandings of proportionality in the context of security, particularly in the current COVID-19 emergency.(Taylor & Francis Online)
- Luja, Raymond. EU Fiscal State Aid Rules and COVID-19: Will One Survive the Other? // EC Tax Review (2020) nr. 4, lk. 147 – 157.
In order to facilitate tax relief to deal with the ramifications of the Corona virus, the European Commission temporarily eased the EU’s state aid framework. This contribution will provide a first glance of some of the tax-related measures taken both within and outside of the scope of state aid rules. Their range is wide, from tax filing and payment deferrals to changes to personal and corporate income taxes, VAT and property taxes. Some Member States still struggle with the remaining requirements not to provide tax advantages (other than deferrals) to companies already in financial difficulty before the COVID-19 lockdowns and with handling fiscal years ending after 2020. As for umbrella aid schemes that do not yet specify which measures will be taken but just serve to get approval based on a certain budget, the author suggests to provide a block exemption to reduce the need for prior notification to the Commission. Once government efforts to deal with sudden income loss, liquidity and solvency issues move to stimulating economic recovery, other policy objectives (like the Green Deal) might also enter the equation when companies apply for financial support. (Kluwer Law Online)
- Robin-Olivier, Sophie. Free Movement of Workers in the Light of the COVID-19 Sanitary Crisis: From Restrictive Selection to Selective Mobility // European Papers (2020), lk. 613-619.
In a context of widespread border checks and border closures, the circulation of workers was not totally abolished: some workers, whose mobility was considered necessary, continued to benefit from free movement. The selection of the types of work mobility to be preserved, in the crisis, is the starting point of this contribution. After considering the most obvious, a "restrictive selection", the Insight suggests that selection can also constitute a way to encourage mobility, in the Union interest, and examines why "selective mobility" can strengthen free movement. (DOAJ: Directory of Open Access Journals)