Financial support and information are crucial to mitigating disasters and can potentially prevent them from spreading or occurring in the first place. What I want to further discuss, or at least think about and touch upon, is how COVID-19 has affected national economies in Europe, what was done and what could have been done to ease its economic and social impact.
COVID-19 has impacted industries across the world, placing a heavy strain on national economies. This has already been extensively discussed by the Support Centre for Data Sharing (SCDS) team in previous opinion pieces.1
To mitigate, and to an extent combat, this knock-on effect, national governments have had to look at things like revenue cuts, possible funding to support (small) businesses and how to keep people employed, for example. To achieve this, governments (and other decision-makers) have:
- Issued subsidy programmes (such as Austria2 and Croatia3) to aid the economy and prevent the market and country from declining and entering a recession; and
- shared data with other stakeholders to research the virus to prevent its spread and support the short- and long-term economic impacts.4
Only time (and several comparative studies) will tell us how successful these measures are or have been, and if there are lessons that can be learnt from them for future pandemics (or national emergencies for that matter). My question is if further (preventative) action could have been taken to avert the spread of COVID-19 if data was shared earlier or access to information was easier?
- 1. SCDS COVID-19 focused opinion pieces:
- Unmasking society’s supply shortcoming
- The national medical way forward
- The Individual and the Collective
- The Individual vs. the Collective amidst COVID-19
- 2. https://www.lexology.com/library/detail.aspx?g=29287da5-cfbc-43dd-98a1-e15cb0e4981c&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+General+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2020-07-15&utm_term=
- 3. https://www.lexology.com/library/detail.aspx?g=9bc0a628-53f2-422b-9173-079ab6f75c11&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+General+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2020-07-15&utm_term=
- 4. https://www.weforum.org/covid-action-platform/articles/supercomputer-covid-19-ibm-scientific-global-collaboration
- 5. https://www.consilium.europa.eu/en/policies/coronavirus/10-things-against-covid-19/
- 6. https://www.weforum.org/agenda/2020/02/coronavirus-spread-virus-disease-countries-epidemic/