How deep will the depression occasioned by Covid-19 be?

DiEM25 Communications
21/03/2020, Articles
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Coronavirus: The economic crisis – Just how bad will the downturn be and can anything be done to soften the blow?

Debate on BBC World Service’s THE REAL STORY

“The 2008 crisis has never really gone away, it has morphed into a different kind of beast. (…) What the virus did through its simultaneous attack of the supply side of the economy and the demand side of the economy; it burst a bubble that was already going to burst, or at least deflate. Now we have today a genuine existential crisis for the kind of model of the global economy that was being held as a ‘natural state of being’ (…) Now we have to reconsider our whole conception of the kind of world we live in.”

– Yanis Varoufakis

Contributors

Stephanie Flanders – head of Bloomberg Economics

Yanis Varoufakis – Greek economist, politician, secretary-general of DiEM25 who also served as Greek finance minister during 2015Linda Yueh – economist and author of the book: ‘The Great Economists’

Veronique de Rugy – a senior research fellow at the Mercatus Center at George Mason University in Washington DC

Also featuring …

Alistair Darling – British Chancellor of the Exchequer during the 2008 financial crisis

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