Online debate discussing which (feasible) new Reconstruction Instrument(s) does Europe need
To confront the COVID-19 crisis at the European level, the ECB has taken the lead with its Pandemic Emergency Purchase Programme (PEPP), to which other instruments have been added: EIB guarantees, the EC proposal for Support to mitigate Unemployment Risks in an Emergency (SURE) and, last week, the ESM’s new Precautionary Covid Line (PCL). Nevertheless, there is widespread agreement – backed by the 17 April European Parliament resolution and 8 May Eurogroup statement – on the need to step-up the European response with a Recovery Fund and/or a well-structured Recovery Plan.
On 20 May 2020, the online debate “Which (feasible) new Reconstruction Instrument(s) does Europe need?” was organized on the initiative of the Pierre Werner Chair Programme, EUI jointly with Florence School of Banking and Finance, EUI and Tommaso Padoa-Schioppa Chair, EUI, to discuss which are the most relevant European needs, and organisational forms, that a such plan should convey, in the light of the European Parliament initiatives and the – soon to be known – European Commission Recovery Plan.
The event was moderated by Elena Carletti, Bocconi University and Florence School of Banking and Finance, European University Institute and featured as speakers Marco Buti (Head of Cabinet of the European Commissioner for the Economy), Luis Garicano (Member of the European Parliament and Professor of Economics and Innovation, IE Business School (on leave)), Ramon Marimon (Pierre Werner Chair, EUI) and Jean Pisani-Ferry (Tommaso Padoa-Schioppa Chair, EUI).
Watch the recording
An initiative of: Pierre Werner Chair Programme, EUI