FT News Briefing Interview with Christine Lagarde, UK business reacts to Sunak’s plan, US hits 3m Covid-19 cases
Jul 9, 2020
Christine Lagarde, the President of the European Central Bank, shares insights on the pandemic's impact, particularly on women who, she notes, are often the first victims in crises. She emphasizes the need for thoughtful recovery strategies, highlighting the importance of grants over loans to support vulnerable communities. Meanwhile, UK business leaders express concerns over job losses despite government recovery plans, and the US grapples with over 3 million confirmed COVID-19 cases. It's a conversation blending economic recovery with social responsibility.
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EU Recovery Fund
- The EU recovery fund could be a game-changer if it primarily uses grants instead of loans.
- Grants prevent increasing national debt levels, which are a concern for the ECB's bond-buying program.
Vulnerable Groups in Crisis
- Women are often disproportionately affected by crises like pandemics.
- Policymakers should consider this vulnerability and support them through fiscal policies and fair compensation.
Globalization Shift
- Globalization may be transforming due to the pandemic.
- Countries, especially export-reliant ones like Germany, may need to reassess their business models.