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Debora Revoltella, Laurent Maurin, Rozália Pál Despite the massive policy stimulus in the EU, both on the monetary and fiscal front, real GDP is contracting by levels unrivalled since WWII. An investment slump is underway. Aggregate investment contracted by 19% year-on-year in 2020 Q2, with all components of investment affected (IMF 2020, EIB 2021 forthcoming). The COVID-19 crisis will lead to structural changes in the global economy and most aspects of human life (Jorda et al. 2020, Brookings 2020). In this column, we present the results of the 2020 European Investment Bank (EIB) investment survey, detailing the impact of the crisis as felt by European and US corporates at the end of the first wave of the virus. ....