EU monetary and fiscal policy responses to the COVID-19 crisis

Abstract

The COVID-19, or, the coronavirus crisis represents an unprecedented global threat in recent history that, as symmetric external shock, affects social and economic dynamics of different countries and regions on both macro and micro levels. The aim of the paper is to provide a critical overview of economic policy responses to the ongoing crisis in the EU and, in particular, the eurozone. The paper tends to answer the question whether proposed monetary and fiscal actions provide feasible risk mitigating tools for the ongoing crisis or are there some viable policy actions that are omitted?