The economic crisis triggered by the COVID–19 pandemic once again raises doubts about the eurozone's ability to deal with joint economic problems given its dissimilar dynamics and asymmetries. This chapter contributes to a paradigm shift in the governance of the euro area towards a more...

The economic crisis associated with the COVID-19 pandemic leads to a substantial potential loss of personal incomes and jobs. European countries have given different answers to the rising challenge, which nevertheless point to the same direction. We give three examples of such courses of action,...