Investors fear the spread of the coronavirus will destroy economic growth and that government action may not be enough to stop the decline. In response, central
The current crisis in the European Union is the most striking example of the seismic economic and social shock of the Corona pandemic.
The European Union was established to manage serious crises like the current epidemic, smoothly through international cooperation and coordination in the field of public health, alleviating the consequences of those economic crises and ensuring a smooth launching of member states after overcoming them.
But what is happening now is contrary to this, where the spirit of the union was absent, and the borders between the European countries were closed, leaving each country to face the deadly epidemic on its own, and the Union did not manage the basic medical supplies of the most affected member states.
With this introduction, journalist Simon Heffer started his article with the British newspaper The Hill entitled "From Europe to America .. This economic collapse threatens the entire global system", during which he highlighted the serious repercussions of the rapid collapse witnessed by the most important global economic powers in light of the policies of closure and stone Its aim is to slow the spread of the Corona virus (Covid 19), which is a policy that has disrupted many aspects of people's lives and the economy of countries.
They are the union and the weaknesses
According to the author, dealing with the outbreak of the epidemic, which has become a focus for some European countries, revealed the weaknesses of the European Union and its alleged federal illusions, and that the union, like many European trade sectors, will never return to its previous era even after the epidemic has receded.
Simon Heffer pointed out that the union proved unable to address the economic consequences of the epidemic, as the leaders' attempt to reach a debt-sharing formula through the Corona Bond Fund did not lead to a decisive decision.
He said that the countries of the Union most affected by the Coruna outbreak, such as Italy and Spain, may resort to requesting huge aid from the European Central Bank to relieve the severe financial distress they suffer from, which could lead to a sharp devaluation of the currency and the dismantling of the euro area if the bank responds to that. The demands, as the bank’s refusal may lead to the destruction of the European Union, because the poorest countries feel that this undermines the principle of the Union.
He added that the prosperity that countries enjoyed in most parts of Europe before the epidemic may take many years before returning to its former era.
Closure fallout
Governments around the world have entered, says the writer, a race to outperform each other in efforts to close their economic facilities in an effort to protect health sector services, but over time and the growing sense of boredom, frustration and anxiety among peoples that are now living under quarantine and closure, has turned their attention to economic damage Consequential to the near-total closure of vital sectors of the economy.
The article pointed out that the United States of America sought to alleviate the economic impact of the crisis by announcing a massive aid package worth two trillion dollars by Congress, but America now has six million unemployed, most of whom are supporters of President Donald Trump.
For example, the writer cited the economic repercussions of the Second World War, which required recovery from a lot of time in many countries, including the United States, hoping that the recovery of the economy will not now require from the severe damages that occurred after the outbreak of the epidemic another world war, and he said that governments should be aware of the threat that The economic meltdown represents it on the world order today.
The current crisis in the European Union is the most striking example of the seismic economic and social shock of the Corona pandemic.
The European Union was established to manage serious crises like the current epidemic, smoothly through international cooperation and coordination in the field of public health, alleviating the consequences of those economic crises and ensuring a smooth launching of member states after overcoming them.
But what is happening now is contrary to this, where the spirit of the union was absent, and the borders between the European countries were closed, leaving each country to face the deadly epidemic on its own, and the Union did not manage the basic medical supplies of the most affected member states.
With this introduction, journalist Simon Heffer started his article with the British newspaper The Hill entitled "From Europe to America .. This economic collapse threatens the entire global system", during which he highlighted the serious repercussions of the rapid collapse witnessed by the most important global economic powers in light of the policies of closure and stone Its aim is to slow the spread of the Corona virus (Covid 19), which is a policy that has disrupted many aspects of people's lives and the economy of countries.
They are the union and the weaknessesAccording to the author, dealing with the outbreak of the epidemic, which has become a focus for some European countries, revealed the weaknesses of the European Union and its alleged federal illusions, and that the union, like many European trade sectors, will never return to its previous era even after the epidemic has receded.
Simon Heffer pointed out that the union proved unable to address the economic consequences of the epidemic, as the leaders' attempt to reach a debt-sharing formula through the Corona Bond Fund did not lead to a decisive decision.
He said that the countries of the Union most affected by the Coruna outbreak, such as Italy and Spain, may resort to requesting huge aid from the European Central Bank to relieve the severe financial distress they suffer from, which could lead to a sharp devaluation of the currency and the dismantling of the euro area if the bank responds to that. The demands, as the bank’s refusal may lead to the destruction of the European Union, because the poorest countries feel that this undermines the principle of the Union.
Closure fallout
Governments around the world have entered, says the writer, a race to outperform each other in efforts to close their economic facilities in an effort to protect health sector services, but over time and the growing sense of boredom, frustration and anxiety among peoples that are now living under quarantine and closure, has turned their attention to economic damage Consequential to the near-total closure of vital sectors of the economy.
The article pointed out that the United States of America sought to alleviate the economic impact of the crisis by announcing a massive aid package worth two trillion dollars by Congress, but America now has six million unemployed, most of whom are supporters of President Donald Trump.
For example, the writer cited the economic repercussions of the Second World War, which required recovery from a lot of time in many countries, including the United States, hoping that the recovery of the economy will not now require from the severe damages that occurred after the outbreak of the epidemic another world war, and he said that governments should be aware of the threat that The economic meltdown represents it on the world order today.
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