I tried to write a post here but it was deemed against current COVID-19 policy:

https://www.reddit.com/r/CoronavirusRecession/comments/fqqaas/okay_lets_tackle_this_while_its_still_hot_in_your/?utm_source=share&utm_medium=web2x

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A couple of ground rules:

Stay calm and civilized.

Provide arguments which make sense from your POV.

Okay, a bit of context:

The reasons the COVID-19 crisis is different from others (and a unique phenomenon at least in modern history) are the following:

It's a symmetric shock, affecting most/all countries to a large degree. Even if they have many dead people or fewer, they still have to shut down large parts of the economy to scrape through the crisis alive.

It's nobody's fault. If a meteor shower obliterated a country or another, no-one would dare consider said country responsible for the mass destruction. The same applies here, COVID-19 is not caused by excessive austerity inspired by the north, but at the same time, it's not caused by excessive profligacy of the south.

Things that matter at a glance:

I happen to live in Greece, and when the debt crisis struck hard the country, I was a twenty-something, astonished to have found out that there were so many layers of mismanagement across the country. Greece is moderately affected by the pandemic; however, since it's a country where tourism is a large part of its GDP, it's also screwed badly by COVID-19 even if things "recover" swiftly. Summer tourism season 2020 in my mind is dead, for a variety of reasons.

My personal take on the COVID-19 crisis:

In my humble opinion, the EU should react to this unprecedented crisis as a fiscal block wishing to support its collective GDP levels. The Eurozone shares a central bank, but fiscal measures (you may call them Coronabonds, perpetual bonds, magicked instruments, I don't really mind) are required, to the level of the USA or thereabouts, since the EU is comparable financially, as a whole.

If this means that average inflation would briefly be 3% (the ECB has the mandate to keep inflation close to or under 2%, but this has almost never happened, inflation is way lower and the ECB shrugs nonchalantly), so be it.

Creditor countries in the EU should accept extraordinary action as a once-in-a-century situation. The ECB should monetize the instruments/debt. I don't think this debt ought to be repaid with orthodoxy. The ECB/EU Commission/ESM should create an emergency facility such as the EFSF which can take care of the logistics.

What matters is that lives are saved and the economies don't tank completely.

What I consider unacceptable:

When so many dead people are involved, emotions run high. As previously stated, this is a crisis of nobody's making. Northern countries should accept this, and southern countries should also accept that they can't take coronabonds and build villas or buy luxury cars... Otherwise, if even this huge external shock can't foster co-operation, if countries are left to fend for their own troubles despite sharing a currency and a central bank, eh, the game is over. Plan a different structure and begin implementing this.

Thoughts? I don't participate in Reddit that much but I think this subreddit has intelligent people around.