Claeys, Gregory; Wolff, Guntram B. - Brussels European and Global Economic Laboratory - 2020
increased. To avoid a COVID-19 depression, euro-area countries have increased massively the supply of their debt securities in … the last two months. With its new purchase programme, the European Central Bank has ensured that euro-area sovereign bonds … insufficient for a true quantum leap. • It is essential to ensure a strong recovery for all countries and thus make the euro area …