Dimitri Demekas, visiting senior fellow at the Institute of Global Affairs at the London School of Economics and special adviser to the Bank of England, and Ludger Schuknecht, former chief economist of the German ministry of finance and deputy secretary-general at the Organisation of Economic Co-operation and Development, join Danae Kyriakopoulou, chief economist and director of research at OMFIF, to discuss European financial stability. They explore the need for high public spending because of Covid-19 and what comes next, the intricate relationship between the real economy and financial markets, the risks faced by central banks in the current crisis and more. Ludger Schuknecht also discusses his latest book, Public Spending and the Role of the State - History, Performance, Risk and Remedies.