Europe to endure economic shock akin to Great Depression due to coronavirus, finance chiefs say - ABC News

The collective European economy will contract by 7.7 per cent and inflation in the eurozone will almost disappear this year because of the COVID-19 pandemic, the European Commission forecast on Wednesday.Italy, Greece, Spain and Portugal will be among the hardest hit

Public debt and budget deficits are also expected to balloon because of economic hardship brought on by the health crisis. "Both the depth of the recession and the strength of recovery will be uneven, conditioned by the speed at which lockdowns can be lifted, the importance of services like tourism in each economy and by each country's financial resources."

Project EU is finished

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Australia 'well-placed' to weather economic crisis, says Macquarie CEOMacquarie Group chief executive Shemara Wikramanayake says Australia's economy is well positioned to get through the coronavirus crisis in the longer-term | clancyyeates clancyyeates Might be a different story if Bill Shorten had won the election clancyyeates Sure...if you didn't run one of the thousands of small businesses wiped out, never to return. clancyyeates In light of this considered opinion, it will be interesting to see if the Government still pushes ahead with the easing of restrictions to reboot the economy. Going too early is a risk that cannot be measured in economic terms- Australian lives, not livelyhoods!
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