Economic recovery post-COVID-19 will be structured around answering a number of fundamental questions. It is necessary to take stock of the extent of the recovery and of the transformation our economies have experienced in the last year and a half.

By April 2021, the COVID-19 crisis in Europe had reached a magnitude that, in the eyes of some observers, either deepened lingering divides and threatened the EU’s very existence, or, conversely, forced the Union to address the fundamental flaws of its euro area and provided an opportunity to...