Solidarity without conditionality. Comparing the EU Covid-19 Safety Nets SURE, Pandemic Crisis Support, and European Guarantee Fund

  • This article compares the three initial safety nets spanned by the European Union in response to the Covid-19 crisis: SURE, the Pandemic Crisis Support, and the European Guarantee Fund. It compares their design regarding scope, generosity, target groups, implementation, the types of solidarity and conditionality, and asks how they reflect on core-periphery relations in the EU. The article finds that the most important factor in all three instruments is risk-sharing between member states, even though SURE and the EGF display elements of fiscal solidarity. Finally, the article shows that Euro crisis countries from the South are the main recipients of financial aid, while Central and East European countries receive significantly less assistance and core countries in the North and West have no need for them.

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Author:Vincent LindnerGND
Parent Title (English):SAFE working paper ; No. 333
Series (Serial Number):SAFE working paper (333)
Place of publication:Frankfurt am Main
Document Type:Working Paper
Date of Publication (online):2022/01/05
Date of first Publication:2022/01/05
Publishing Institution:Universit├Ątsbibliothek Johann Christian Senckenberg
Release Date:2022/01/10
Tag:Covid-19; European Commission; European Investment Bank; European Stability Mechanism; conditionality; financial solidarity
Page Number:29
Institutes:Wirtschaftswissenschaften / Wirtschaftswissenschaften
Wissenschaftliche Zentren und koordinierte Programme / House of Finance (HoF)
Wissenschaftliche Zentren und koordinierte Programme / Center for Financial Studies (CFS)
Wissenschaftliche Zentren und koordinierte Programme / Sustainable Architecture for Finance in Europe (SAFE)
Dewey Decimal Classification:3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft
Licence (German):License LogoDeutsches Urheberrecht