by The US is deploying approximately 25% of its GDP to bolster the economy in comparison to a more timid approach from Europe, the former will likely prove better for labour market recovery.There is now hope that the global economic situation will rebound as the pace of vaccination picks up. It is, therefore, the time to take stock of the crisis in the northern hemisphere but, unfortunately, this balance sheet does not turn out well for Europe.Although the US got off to a late start with anti-coronavirus measures last year, it reacted very quickly to the massive economic slump and is now in a comparatively better position. Furthermore, the US vaccination rollout is picking up and Washington has launched a massive stimulus program to boost the economy. Once again, Europe has to reflect on why
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The US is deploying approximately 25% of its GDP to bolster the economy in comparison to a more timid approach from Europe, the former will likely prove better for labour market recovery.There is now hope that the global economic situation will rebound as the pace of vaccination picks up. It is, therefore, the time to take stock of the crisis in the northern hemisphere but, unfortunately, this balance sheet does not turn out well for Europe.
Although the US got off to a late start with anti-coronavirus measures last year, it reacted very quickly to the massive economic slump and is now in a comparatively better position. Furthermore, the US vaccination rollout is picking up and Washington has launched a massive stimulus program to boost the economy. Once again, Europe has to reflect on why we risk permanent damage while the US is acting quickly and decisively.
Where does Europe stand?...
The EZ is hamstrung by the Maastricht Treaty. Having forfeited currency sovereignty, EZ governments are dependent on the ECB.
Flassbeck Economics InternationalPublic Investment: why America’s “more” is better than Europe’s “too little”
Heiner Flassbeck