The impact in Europe of COVID-19 on people’s health and the health sector, as well as on the economy, has been devastating, but the impact varies across the Member States. Commissioner Ferreira warned against the risk of an uneven recovery and stressed the importance of action at EU level, stating that a common budget of just 1% of the EU’s gross national income is not enough. It is not an option, she said, to let regional disparities increase because of the crisis, adding that some areas are vulnerable due to their dependence on sectors that have been particularly hit by the crisis, for example, transport and tourism. The Commissioner argued that short term thinking could be detrimental to an effective economic recovery in all regions. EU member states are interdependent and a recession is some countries also harms others.

The Commissioner stressed that a collective response is needed if the EU is to get out of the crisis. With regard to industrial policy, she said that there needs to be awareness of the disparities that may emerge from the industrial transition. Industrial policy must engage all actors and countries to ensure that the positive spillovers are felt across Europe.