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Fighting the COVID-19 Crisis: Debt Monetisation and EU Recovery Bonds

Fighting the COVID-19 Crisis: Debt Monetisation and EU Recovery Bonds

Botta, Alberto ORCID: 0000-0001-9464-8251, Caverzasi, Eugenio and Russo, Alberto (2020) Fighting the COVID-19 Crisis: Debt Monetisation and EU Recovery Bonds. Intereconomics, 55. pp. 239-244. ISSN 0020-5346 (Print), 1613-964X (Online) (doi:

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This paper highlights some peculiar characteristics of the economic crisis induced by the spread of COVID-19. It suggests two intertwined policy measures in order to tackle the emergency phase of the crisis and to support the economy in the subsequent recovery phase. The proposed short-term policy measures offer policy responses in the event of a second wave of coronavirus infections in the coming months. In the aftermath of the emergency phase, the current proposal puts forward the implementation of a massive EU-wide recovery plan addressing the long-lasting technological and environmental challenges of these years, which will be financed by European institutions through the issuance of European Pandemic Recovery Bonds.

Item Type: Article
Additional Information: © The Author(s) 2020. Open Access: This article is distributed under the terms of the Creative Commons Attribution 4.0 International License ( Open Access funding provided by ZBW – Leibniz Information Centre for Economics.
Uncontrolled Keywords: Covid-19 crisis, suspended economy, public debt, monetization, EU recovery bonds
Subjects: H Social Sciences > HB Economic Theory
Faculty / School / Research Centre / Research Group: Faculty of Business
Faculty of Business > Department of International Business & Economics
Related URLs:
Last Modified: 21 Oct 2020 08:00

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