While the first line of defence for national and international stability is to have sound domestic policies in place, the Global Financial Safety Net (GFSN) strongly supports global financial stability. The ECB sees a need for the GFSN to be further strengthened with a strong, quotabased and adequately resourced IMF at its centre, particularly in the face of escalating risks and high uncertainty.
Apart from getting used to face masks, for many people it was the first time they did their shopping online, the first time they had remote video conversations with colleagues, friends and family, and the first time they started to follow movie series via streaming services. This quantum leap in digitalisation has also seen a boom in cashless payments.