The magnitude of the crisis in Europe has exceeded expectations


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European governments recognized that the crisis in the region exceeded expectations and to abandon the economic stimulus and business support will be possible soon. It is reported Bloomberg.

So, despite the gradual easing of restrictions due to pandemic COVID-19 expanded programme of employment support, allowing you to save over 50 million jobs for which employees will be able to return. Also available to defer the payment of taxes and the payment of loans.

According to forecasts, if not to extend the anti-crisis measures, the European countries expect a surge in unemployment that will threaten the economic recovery. According to the analyst of German Bank Commerzbank AG, the government must respect a delicate balance between reduction and continued state support. It all depends on what effect a specific action on the development of the situation.

Another reason to exercise caution — a new outbreak of infection with coronavirus. In some areas of the UK and Portugal, the authorities had to return cancelled earlier limitations.

Meanwhile, refusing quarantine, Sweden pulled an unexpected economic benefits. Over the past three months the exchange rate of the Swedish Krona against the Euro increased from 11.2 kroner per Euro in mid-March to 10.4 crown in early July.

Video, photo All from Russia.


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