Coronavirus recovery – lessons from the eurozone crisis

As governments around the world grapple with the public health and economic effects of the COVID-19 pandemic, there are striking similarities with the eurozone crisis that followed the 2008 financial crisis. The early signs indicate that the EU is responding much more effectively to this crisis than it did in 2008. Many European governments are increasing their spending to compensate for the economic losses of lockdowns, as they initially did in the wake of the 2008 financial crisis.