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The Fiscal And Monetary Response To Supporting Credit In The Eu During The Covid-19 Crisis

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  • Dorina Clichici

Abstract

The COVID-19 crisis has manifested differently from other economic crises, causing an unprecedented economic shock to the European Union (EU) economy. The lockdown measures, widely introduced by Member States in 2020, have differently affected the sectors of the economy, while the new virus has induced a high level of ambiguity about its long-term consequences for the real sector. In this context, in order to avoid the collapse of the real economy and to mitigate the financial shock, the fiscal and monetary response of the European authorities has been broad and prompt. The article summarizes the fiscal measures taken by EU governments and their scale, as well as the response from the monetary authorities to encourage lending and support the real economy.

Suggested Citation

  • Dorina Clichici, 2021. "The Fiscal And Monetary Response To Supporting Credit In The Eu During The Covid-19 Crisis," Euroinfo, Institute for World Economy, Romanian Academy, vol. 5(3), pages 63-73, September.
    • Handle: RePEc:iem:eurinf:v:5:y:2021:i:3:p:63-73
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    File URL: http://www.iem.ro/rem/index.php/euroinfo/article/view/806/890
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    More about this item

    Keywords

    COVID-19 crisis; European Union; fiscal measures; monetary measures; bank lending; non-performing loans;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General

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