Barry Eichengreen: Economic recovery will be like a ‘Nike Swoosh’

The steep contraction of the global economy will be followed by a slow rebound as the coronavirus pandemic starts to subside, Barry Eichengreen, the George C. Pardee and Helen N. Pardee Professor of Economics and Political Science at the University of California, Berkeley, tells Kathimerini. The shape of the recovery, says Eichengreen, will be much like the "Swoosh" logo of the sportswear brand Nike.

On the subject of Greece, the former senior policy adviser for the International Monetary Fund says that it did the right thing in its reaction to the pandemic, but its comeback will rely on advances in the science related to the novel coronavirus.

Professor Eichengreen believes that the medium-term effect on international trade will be "only moderate," as seen in the aftermath of the September 11, 2001 attacks on the World Trade Center in New York City, but sees debt...

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