How the European Central Bank responded to the COVID-19 pandemic
Abstract
The article examines the role of the European Central Bank (ECB) during the COVID-19 pandemic and explores the key aspects of the policy implemented by the ECB during the crisis. Specifically, it focuses on the monetary tools used by
the ECB, particularly the implementation of the Pandemic Emergency Purchase Programme (PEPP) and compares it with the Outright Monetary Transactions (OMT). The text also discusses the reasons why the OMT were not utilised in the
case of COVID-19 and examines whether the changes in the ECB’s policy during the pandemic constitute a paradigm shift in the European monetary integration.
Article Details
- How to Cite
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Malliou, M.-N., & Hazakis, K. (2023). How the European Central Bank responded to the COVID-19 pandemic. Perifereia, 16(16), 11–31. https://doi.org/10.12681/ri.35844
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