Besides the measures taken by central banks, governments also have a very important role to play. I was impressed by the scope of the decisions and orientations taken by European governments and by their unity over the past months.
When talking about global market liberalisation and economic cooperation, we hear extreme, ideologically motivated solutions all too often: for instance, populist nationalism promises that everything will get better if we build new walls between our societies. At the other extreme are those who favour hyper-globalisation, that is, no borders to economic activity at all and full harmonisation.