When Southern European countries adopted the Euro as unified currency instead of their own currency, they lost the most important banking tool that could help them achieve constant economic growth and help overcome economic crises they might face.
The coronavirus has demonstrated the failure of the European Union in its social policies, maybe because it was created as an economic bloc only. The European Union exists because NATO wants it but many economists expect that the crisis will lead to its end as an economic project.
A recurring pro-Kremlin disinformation narrative about the coronavirus that seeks to discredit the EU, claiming that it has abandoned European values and traditions and is built on the worship of money and of free-markets. This message is consistent with the common pro-Kremlin narrative about decadent values and moral decay in contemporary Western societies.
The EU began as the European Economic Community (EEC) in the aftermath of the Second World War in 1958, initially conceived to increase economic cooperation between member states. The EU has since evolved into a large scale multilateral organisation spanning many different policy areas, from climate, environment and health to external relations and security, justice and migration.
During the coronavirus pandemic, the European Union is supporting Member States in addressing the crisis and mitigating the economic consequences of COVID-19. To cushion the blow to people’s livelihoods and the economy, the European Commission has adopted a comprehensive economic response to the outbreak, applied the full flexibility of the EU fiscal rules, has revised its State Aid rules and proposed to set up a EUR 37 billion Coronavirus Response Investment Initiative to provide liquidity to small businesses and the health care sector.
To support scientific research into the COVID-19, the European Commission earmarked 47.5 million EUR for shortlisted research projects that can improve epidemiology and public health, including preparedness and response to outbreaks. The EU has also created the first-ever stockpile of medical equipment.
Read similar cases attacking the EU by claiming that the EU is built on anti-European values while Russia upholds genuine European values, that Europe is losing its values and former power, and that liberalism leads to the loss of national sovereignty.