Europe can respond to the Covid-19 crisis in two ways: restore the past or bounce forward.

If we focus on the old economy, we risk sliding into irreversible societal decline. The powerful rise of digital solutions and global technology giants (Google, Apple, Facebook and Amazon, GAFA, in the US and Bytedance, Alibaba and Tencent, BAT, in China) points to the urgency, vigor and method by which Europe should react to this exceptional challenge.

Europe can reclaim its distinct societal model in the global digital economy. The ambitious budget proposal by the European…