Members of European Parliament criticize eurozone COVID-19 strategy
Jerome Hughes
Press TV, Brussels
Across most of Europe, the weather has turned colder and wetter. Concern is growing that the coronavirus will thrive this winter, leading to nationwide lockdowns and even greater financial misery.
EU lawmakers have been discussing economic implications with the European Central Bank, which manages the euro. Many MEPs support the ECB’s approach but some believe the bank’s monetary policy is unsustainable.
Inflation in the 19-nation eurozone is too low. It’s hard to see how the EU can emerge from this deep recession. The longer it goes on, the greater the political consequences, according to experts.
Just how badly will the poorest living in the eurozone be affected by this crisis? That’s the question charities are now asking. We will soon know if the EU can reach a trade deal with the UK, if an effective vaccine for COVID-19 can be found, and if eurosceptic Donald Trump will get four more years in the White House. And it’s in this context many analysts are saying the next few months could be make or break for the EU.
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