Grants – the European Union’s Response in the Fight Against the COVID-19 Pandemic
Number 10, October 2020 » Finance
Abstract: The COVID-19 pandemic is affecting the entire world as well as every single citizen. The health crisis started at the beginning of 2020 and up until now no improvements can be predicted. The health crisis has led to the development of an economic crisis. Since the two are closely related and there is no cure for the health crises yet, we can only expect that the economic crises will extend and that it will continue to produce effects long after the health crises would have ended. Mankind has not faced such a health crisis for more than a century and the economic conditions back then were totally different from the present ones, therefore we cannot say that we have an answer for the current economic crisis. European leaders have reached the conclusion that the best weapon in fighting against the current economic crisis is the liquidity infusion to the economy by means of grants and loans given by the European Commission to all EU Member States.
Classification JEL: H81, H12, G23 | Pages: 46-51
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