The coronavirus crisis, its economic repercussions and the measures put in place to respond to it will lastingly transform our societies. This crisis will produce "an acceleration of transformations which were already latent in our economies", estimated the president of the European Central Bank, Christine Lagarde, during the Economic Meetings of Aix-en-Seine. This forum, usually organized in Aix-en-Provence, has been relocated in virtual mode to Paris this year.
Christine Lagarde expects from these changes "an evolution towards a more sustainable and greener lifestyle". She cites lasting changes in production, work or trade. She notably mentioned teleworking, which will "transform the working methods of all employees", at least in developed countries, and "the acceleration of digitization, in services or automation in industries". According to her , "the crisis should lead to a contraction of supply chains of around 35% and an increase in robotization in industries of around 70 to 75%".
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For the Governor of the Banque de France, François Villeroy de Galhau, measures adopted as "exceptional" are "here to stay" in terms of economic and monetary policy, such as low or negative rates or monetary easing. He welcomed the pragmatic conversion of Germany to Keynesianism, in favor of better integration of European economic policies.
For the President of the European Council, Charles Michel, the climate transition is no longer a "question of choice" but a "necessity" and even "a formidable lever of prosperity ".
