Debates over how to tackle the coronavirus outbreak have led to the use of new keywords to explain economic concepts.
What are some of the keywords being used in the new debate on how to tackle the Coronovirus crisis?
**General escape clause: **Activating this clause means EU countries can escape from the deficit restrictions of the Stability and Growth Pact. Once they push this button, they can spend what they need to support the economy and health systems.
ESM: The European Stability Mechanism - This is a fund created during the Eurozone crisis to provide emergency loans in return for reform programmes. It can raise 410 billion on behalf of eurozone countries to contribute to tackling the coronavirus crisis.
Coronabonds: Issuing so-called corona bonds would be a sign the EU is bringing out the big bazooka. They'd be used to share debt created to mitigate the economic fallout. But the fiscally conservative countries resist.
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