Conseguenze economiche della pandemia da Covid-19: necessità di misure coordinate a livello europeo e di un più incisivo ruolo dei poteri pubblici rispetto ai mercati

Abstract

The risk of a severe crisis in the real economy has become quite substantial, due to the economic consequences of the Covid-19 pandemic. Like all major crises, this crisis might help us achieve significant progress, as long as we do our very best and adopt the right solutions.

State intervention is essential, but effective action requires coordinated containment measures at European level. In so doing, member states would comply with the objectives of economic and social cohesion and solidarity between them, which are at the basis of the European Union. An increased European integration is needed more than ever and is the only possible response to this crisis. 

The enormous difficulties in fighting this public health emergency were also due to the shortage as well as the rising cost of personal protective equipment (PPE) and of some essential medicines. Such difficulties are also a precious opportunity for a review of the role of public authorities with regard to markets as well as their long-term objectives.

Public authorities should do more than correcting market failures once they appear and become clear, but should also take action to drive markets, production and innovation to deal with matters of public interest, such as the protection of health.

Antitrust law can play a key role in helping protect goods and services, which are essential to the exercise of fundamental rights, such as the right to health. Antitrust law can also help combat inequality, which is even more unacceptable during times of crisis.