Corona pandemic from European perspective
Until now, the coronavirus pandemic has attacked the global economy on two fronts; supply and demand. This has led to a dramatic drop in economic activity. The next casualty will be considerable losses in the banking sector. So, very soon, we’ll be fighting on three fronts: A health crisis, an economic crisis and a financial crisis.
Despite the virus being global, both the direct health crisis and the secondary economic crisis are being met with initiatives at a national level - in the health area with lockdowns, social distancing and improved hygiene. To counter the subsequent financial knock-on, most countries are therefore allowing cash to flow from public coffers to avoid mass lay-offs.
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The page was last edited by: Department of Economics // 04/27/2020