“The European Union should prepare an aid plan for the poorest countries in Africa, affected by the global coronavirus crisis. A virtuous circuit similar to that of the post-war Marshall Plan would be created: at that time the richest country, the United States, financed the reconstruction of European industrial plants and at the same time generated additional demand for its businesses, affected by a drop in demand after the end of that for armaments. Now, the European Union is a financial power capable of mobilizing vast resources, while its companies are affected by a drop in demand which, in perspective, represents a much heavier problem than the momentary interruption of the offer “.
So says Professor Alessandro Roncaglia, emeritus of political economy at the Sapienza University of Rome, a lynx partner.
Roncaglia summarizes one of the points supported by the document approved by the Covid-19 commission of the Accademia dei Lincei, specifically that relating to Africa.
The study’s proposal basically summarizes how the European Union should prepare a aid plan for the poorest countries in Africa, hard hit by the world coronavirus crisis.
The EU is today a financial power capable of moving high resources, at the same time its companies are seriously affected by a drop in demand.
Helping the poor countries of Africa would help support the European economy hit by the health crisis and help it to restart faster. It could also slow down migration flows, strengthen the role of the EU worldwide and ultimately contribute to a reduction of global inequalities.
“Helping the poor countries of Africa – writes Roncaglia – would help the European economy hit by the coronavirus crisis to restart; at the same time it could slow down migratory flows, strengthen the role of the Union in the world and, last but not least, would contribute to a reduction of inequalities on a global scale “.