The Health Crisis could lead to serious Social Unrest over a long time
Obviously this aspect of the current crisis should not be underestimated. Indeed many analyses point out that this pandemic will act as a brake on the global economy. This economic crisis could therefore become a major cause of social disorder. It is in this fluid environment that governments are announcing massive stimulus packages one after the other. And as is very often the case the pandemic affects first of all the less well-off sections of the population. It is clear that such a health crisis can exacerbate social unrest. In human history plague epidemics already in the 6th century and then later during the 17th century or the Spanish flu have killed about 100 million people across the world (Re.Morens). The € 750 billion EU's support plan for the economy is of course essential to channel the social discontent. However, two comments lead us to temper our optimism. First of all, no economist can be sure that this plan will be enough to give a decisive impetus to the European economy. Our second observation is to stress that these amounts may be distributed to late to avoid a social shipwreck. We are experiencing an historic moment when European authorities in particular must show willingness to act. Unfortunately small calculations and political bargaining are still far from over.