An EU emergency health fund to limit the impact of future crises
Leading finance experts propose an Emergency Health Financing Facility to limit the impact of future crises on the EU
The last systemic crisis
The Global Financial Crash in 2008 brought several EU countries close to the brink of default.
Pre- existing structures were not sufficient to avoid the crisis, but lessons were learnt and new regulation was put in place to stop this happening in the future. This crisis was described as a ‘once in a lifetime systemic crisis’.
However, just over a decade later, the world has found itself in yet another systemic crisis – The Great Lockdown Crisis of 2020. The COVID-19 pandemic, and the necessary restrictions and regulations brought in around the world to curb the spread of the virus, has resulted in a global economic crisis.