This can in turn create a launchpad for the whole of Europe to rise to the new challenges of today. We all need to adapt and innovate in order to succeed. And just as this is true of regions, so it is true of Europe more widely as we recover from the pandemic.
The most striking case is the rescue of a bank or a country. In theory this should not occur because taxpayers’ money should not be used to save those who have misbehaved or failed to comply with the rules. But in some cases it is necessary in order to avoid a systemic crisis that can have even more devastating effects.