Containing virus key to economic recovery, says Maurice Obstfeld

Measures designed to contain the coronavirus pandemic are also the most effective way to safeguard the world's economies as the coronavirus will continue to batter international markets until a vaccination is discovered, Berkeley University economics professor Maurice Obstfeld tells Kathimerini.

The former chief economist at the International Monetary Fund believes that a return "to more tolerable activity levels by midsummer" is possible, yet warns that the current crisis could be worse than the 2008 financial crisis. He also believes that measures adopted by the United States and Europe to prop up their economies are in the right direction.

As far as Greece is concerned, Obstfeld says that the crisis "warrants an exceptional support effort at the European level" as the country is vulnerable on multiple fronts, while warning of a fresh migration crisis.

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