Not only should we not end up being accused of failing to fulfil our duties, but we should explicitly recognise that cushioning the consequences of such a huge shock goes beyond the possibilities and instruments of fiscal or monetary policy alone. A coordinated effort is required and its effective implementation in the majority of countries is a major achievement.
A further relevant topic that will be discussed in the third session of the workshop refers to the long-term consequences of the crisis on the structure of our economies. It is difficult to predict how the world will look after the pandemic wanes, which changes in consumption habits will persist, how production and labour will be re-organised.