The European stability mechanism in front of the epidemiological emergency

Abstract

The recent Report on the comprehensive economic policy response to the COVID-19 pandemic, opened a debate on the solutions to be taken to deal of the economic crisis caused by the global health emergency. Therefore, a specific “package of proposals” was agreed following the lengthy negotiation at the Eurogroup, of the 9 10 th of April, based on a strong European financial plan to support workers and businesses, that includes the provision of aids in accordance with a sustainable economic financial, health and social recovery. The Eur opean response of the "package" provides for flexible use of the ESM to “support the financing of direct and indirect health care as well as the costs of treatment and prevention due to the crisis caused by COVID 19”. In a spirit of solidarity, it seems re alistic to hope, in view of the next summit, that the European Council will assess the adequacy of the European bonds and of the conditionalities of the ESM, which must not undermine national sovereignty.