Comment: Europe must invest in a new future, not simply restore the past

Central banks have learned much from previous crises and are now acting on those lessons, but economic policymakers at all levels must avoid the age-old trap of fighting the last war

18th May, 2020
Comment: Europe must invest in a new future, not simply restore the past
Central banks and governments have responded quickly to Covid-19, firing out stimulus to keep cash flowing and support the economy

As has been widely noted, central banks on both sides of the Atlantic met the economic fall-out from the Covid-19 pandemic faster and on a greater scale than ever before. Major decisions were made in the space of just days or weeks, rather than months or years as was the case after the 2008 global financial crisis. This decisiveness has averted a complete economic collapse, and possibly the breakdown of many societies.

But we are still...

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