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Wed, Apr 1, 2020

Europe needs a quick economic coronavirus response: The ESM can provide it

A rapid and flexible deployment of the €410 billion lending capacity of the European Stability Mechanism (ESM) is urgently needed to support the policy initiatives launched to combat the coronavirus crisis throughout Europe. The sooner the Eurogroup of finance ministers can return to something akin to this sensible compromise position suggested by its President Mario Centeno last week, the better.

New Atlanticist by Bart Oosterveld

Coronavirus European Union

Thu, Mar 26, 2020

Coronavirus crisis sends shockwaves through US labor market

The US Department of Labor’s unemployment release on March 26 gave fresh numbers to display the shocking and historic impact of the spread of the coronavirus and the resulting economic collapse in the United States. Initial weekly unemployment claims through March 21 came in at 3.28 million, a historic high surpassing all but the most pessimistic forecasts as well as the experiences in prior sharp downturns such as the oil crisis and global financial crisis.

New Atlanticist by Bart Oosterveld

Economy & Business Macroeconomics

Tue, Mar 24, 2020

The Fed ramps up its coronavirus response

On March 23, the Fed announced meaningful additional measures to support the US economy, following dire predictions from some senior policymakers over the weekend. In its statements, the Fed restated its commitment to deploy “its full range of tools to support the US economy,” and its next steps do not by any measure exhaust those tools. The Fed, in other words, has multiple “kitchen sinks” to throw at problems.

New Atlanticist by Bart Oosterveld

Coronavirus Macroeconomics

Bart Oosterveld is an independent advisor to companies and governments in the areas of macroeconomic, credit, and country risk. He was Director of the Global Business & Economics Program at the Atlantic Council until December 2019. In the latter capacity, he led the Council’s work on global trade, growth, and finance, including the Council’s flagship EuroGrowth and Economic Sanctions initiatives.

Prior to joining the Atlantic Council in November 2017, Mr. Oosterveld worked at Moody’s Investors Service for almost two decades. In his most recent role as chief credit officer, Mr. Oosterveld was responsible for the credit strategy in the Americas across all asset classes. Between 2010 and 2014, Mr. Oosterveld served as the rating agency’s global head of sovereign ratings. Among other positions, he served as chair of the company’s Macroboard, its chief credit officer for governmental ratings, as well as management representative to the Moody’s Corporation’s board of directors.

Mr. Oosterveld graduated with degrees in the philosophy of law and the history of Spanish literature from the University of Amsterdam. He holds master’s degrees in public policy from Columbia University and in economics from Georgetown University. He speaks Dutch, Spanish, English, German and French.