Europe has been urged to prepare for a new pandemic. How will bitcoin react

European leaders, including Angela Merkel and Emmanuel macron, have warned of the possibility of new disease outbreaks. Due to COVID-19 in March, the value of cryptocurrencies fell by half, but quickly returned to previous levels.

The spread of coronavirus infection has led to the fact that many ways to preserve capital have proved ineffective. For example, government bonds almost ceased to generate income, in March, the share price fell to multi-year lows, and cryptocurrencies suffered.

Now France, Germany and four other European countries have called on the EU to prepare for new pandemics, recognizing that the measures taken to contain the spread of the coronavirus were not enough. Emmanuel macron and Angela Merkel, together with the leaders of Spain, Poland, Belgium and Denmark, proposed to create a “single European approach” to combat such problems, writes Barrons.

For example, it is proposed to create a permanent stock of medical protective equipment and medicines and establish cooperation that will allow the timely production of essential goods during a crisis. The authorities also called for developing science and funding extensive clinical trials to create vaccines.