POLICY COMPASS

EU Commission Bonds With Enhanced ESM Surveillance To Unblock The Impasse at EU Council

By Brunello Rosa and Nouriel Roubini

22 April 2020

In this paper we discuss:

• The economic impact COVID is having on Europe;
• The common policy response by the EU to Covid and why it needs to be increased;
• What are the positions of countries ahead of April EU Council summit;
• What are the domestic political constraints by EU leaders;
• Where a compromise acceptable for all could be found; and
• The market implications of all the above.

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