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EurActiv (4 December 2020)

By Jorge Valero

The COVID pandemic is putting pressure on the sustainability of some European economies, prompting some to argue that economic growth and monetary support from the European Central Bank will not be sufficient and that public debt should be renegotiated.

The EU is struggling to overcome the deepest crisis in its seven-decade history, caused by the most fatal pandemic in a century, which depressed growth and sent public debt to record levels.

During the past financial crisis, EU public debt (excluding the UK) increased by 20 points to 86.6% of its GDP. 

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