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A letter to Santa, the G7

3 monthes ago   |   By Bruegel

This opinion piece was originally published in El País.
Since the coronavirus outbreak became a pandemic, markets have plummeted. Global risk aversion has spiked, safe assets have becoming hugely expensive and the dollar - and gold - are kings. Against such a backdrop, central banks have scrambled to react, as quickly as possible, to the market deluge. But action is not enough and all eyes are on the G7 meeting.
Today, international cooperation is even more necessary than in 2008 for a number of reasons. First, the shock to the real economy is bound to be bigger, as the coronavirus...
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