The European Commission has responded decisively to the economic and social impact of the COVID-19 pandemic, putting in place major new policy instruments, most notably NextGenerationEU. Nevertheless, the medium- to longer-term impact of the pandemic on both the economy and society remains to be seen. In this context, at the beginning of 2021 Commissioner Gentiloni convened a High-Level Group to reflect on the main economic and social challenges the European economy will face in the post-COVID environment. The group's report was published on 1 March 2022.
The group looked at issues including, among others, the implications of the pandemic for the real economy and the twin transitions; financial systems; the role of the private and public sectors in promoting investments and a resilient and sustainable economy; the place of European values in the international division of labour; and changes in society and working patterns.
On December 7, 2021, the Slovenian, Portuguese and French Presidencies of the Council of the European Union expressed their support for the mandate of the High-Level Group.
The group was comprised of eight members:
- Carlo Carraro, President Emeritus and Professor of Environmental Economics at Ca’ Foscari University of Venice
- Benoît Cœuré, President of the Autorité de la concurrence
- Otilia Dhand, Managing Director, Teneo
- Barry Eichengreen, George C. Pardee and Helen N. Pardee Professor of Economics and Political Science, University of California, Berkeley
- Melinda Mills, Nuffield Professor of Sociology and Director, Leverhulme Centre for Demographic Science, University of Oxford
- Hélène Rey, Lord Raj Bagri Professor of Economics, London Business School
- André Sapir, Professor, Institut d'Études européennes, Université Libre de Bruxelles
- Daniela Schwarzer, Director, Open Society Foundations