Europe needs a post-corona recovery programme
What comes after the Coronavirus outbreak? Politicians are discussing a huge economic stimulus package in many capitals, and the central banks worldwide want to support this with cheap money.
The predicted decline of the global economy seems unprecedented in this form. Reconstruction of certain economic processes will be indispensable, however, it would be a historical mistake should it follow the classical pattern of building on fossil growth.
The industry is worried about the cuts that will be made in the protection measures against the coronavirus worldwide. Entire value chains have been disrupted and, depending on how long the protective measures last, there could be significant losses with serious consequences for a serious recession. What does this mean for the European Green Deal? Europe set out to become the first continent to reduce CO2 emissions to zero by 2050.
Commission Vice-President Frans Timmermans set out to examine all proposed legislation for compatibility with the European Green Deal. At the same time, an industrial strategy was launched that explicitly focused on supporting the deal. The question now is if the coronavirus is putting a damper on these plans.
An interesting article by Jorgo Chatzimarkakis, Secretary General of Hydrogen Europe at NEW EUROPE newspaper.