In response, conventional norms have been set
aside. The European Commission's proposal to trigger an "escape clause" in fiscal rules governing
the budget deficit and public debt has been approved by the bloc's finance ministers. Brussels has
also laid out its guidelines for establishing "green lanes" to allow the free circulation of goods
in the single market, after concerns over border closures and fears of backlogs. In addition, the EU
executive adopted a temporary framework for state aid to ensure that companies have sufficient
liquidity during the coronavirus crisis. The European Central Bank has committed to 750 billion
euros in interventions — equivalent to 4 percent of GDP — via its Pandemic Emergency Purchase
Program.
The third measure is solidarity, following Italy's complaint that its fellow
member states had failed to answer its appeal for medical supplies. The message was clear: its EU
partners need their ventilators and masks for themselves. Instead, it was China that sent aid to
Italy. Surprisingly, Russia too is apparently able to afford to export medical equipment, thereby
scoring some points in the battle of geopolitical narratives.
The European Commission has
now announced new measures to organize (and fund 90 percent of) strategic stockpiles of medical
equipment, saying explicitly that the new initiative is putting "EU solidarity into action." Further
initiatives are expected, including more investment in biotech research and the development of an
industrial base to guarantee Europe's strategic autonomy in the medical sector.
Such
concrete measures are not just essential to assist member states in their hour of need. In times of
social distancing, they also help to show European citizens and international partners that the
European Union can provide added value to individual EU countries, and that it remains a force to be
reckoned with.
The EU has weathered many crises during the past decade, and will no doubt
prove its resilience once again. Despite a slow start, the measures that have been put in place at
the supranational level show a strong willingness to preserve the essential pillars on which the EU
is built, notwithstanding the massive impact of the virus on people, businesses, and states. What
doesn't kill the EU will make it stronger.