Pascal Lamy: "If Germany doesn't want coronabonds, well, let's do without Germany!"

Pascal Lamy, President of the Jacques Delors Institute, chaired the World Trade Organization from 2005 to 2013.

Le Figaro. - How do you feel about this unprecedented double health and economic crisis?

Pascal LAMY. - There is a great deal of uncertainty about health, economic and therefore social developments, in particular in the United States and in Africa. Even if it is risky, it is nevertheless absolutely necessary to think of the after to organize it. This crisis is completely new. We have never seen states in peacetime slow down the economy so much to save lives. The economic damage will be significant in terms of production and capital losses. We can expect a strong recession. Nobody believes in a scenario of rapid recovery in V, at best in U and again, it will probably be very spread out.

What will be the impact on world trade?

Massive without a doubt but it is not essential. The question behind is globalization or demondialization,

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