The Intelligence from The Economist Opening arguments: Europe’s cautious restart
Apr 13, 2020
Christopher Lockwood, Europe editor for The Economist, and Tom Nuttall, the Berlin bureau chief, discuss Europe's tentative economic restart amid the COVID-19 pandemic. They delve into the tricky balance of reopening economies while safeguarding public health. The conversation highlights the contentious debate over corona bonds and financial interdependence among EU nations. Additionally, they explore an innovative chocolate project in Congo, which aims to boost local economies and protect wildlife amidst challenges.
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The Grim Calculus
- European countries face a difficult trade-off between economic damage and lives saved during the COVID-19 crisis.
- This grim calculus involves balancing the costs of lockdowns with the potential for increased deaths from other causes.
Varied Reopening Strategies
- European countries' reopening strategies vary because each country is at a different stage of infection and has different healthcare capacities.
- The capacity of the health system is key to saving lives during the pandemic.
Cautious Reopening
- A complete return to normal would trigger another wave of infections, so reopening must be gradual and cautious.
- Some businesses, like construction, may reopen sooner than others, like restaurants or mass gatherings.