Economic impact of Covid-19

[dublinblue12]

Small businesses will suffer, some bigger companies too, giant companies like Amazon will thrive

 

[KS55]

Just how big will gov debt be when all this over?

 

[Ardwick Green Blue]

Just how big will gov debt be when all this over?

About 10% of what it would be if Corbyn had won the election :)

 

[BobKowalski]

Thanks for that reply, we genuinely have no idea what is happening in EU and only get news from UK outlets online and nothing has been mentioned. Not a political question or trying to stir anything up genuinely wonder what is the response as it does seem each country is on their own in terms of plans and reaction to this virus.

Asset relief program launched initially. State Aid rules put aside. Lot of effort trying to keep supply chains moving in light of border closures so that medical supplies get through unhindered crossing the continent. Starting to coordinate EU state cooperation in sharing the burden namely taking patients from other countries where specific regions are under strain. E27 Health ministers meet regularly (video) to discuss situation in each other’s countries and there is an EU ventilator procurement program now in place which the UK opted out of.

Heath is a national competence. EU plays a secondary role to national Govts as they decide health policy not the EU so yes each country is on its own to an extent because that’s the way the EU countries wanted it

 

[Ardwick Green Blue]

Asset relief program launched initially. State Aid rules put aside. Lot of effort trying to keep supply chains moving in light of border closures so that medical supplies get through unhindered crossing the continent. Starting to coordinate EU state cooperation in sharing the burden namely taking patients from other countries where specific regions are under strain. E27 Health ministers meet regularly (video) to discuss situation in each other’s countries and there is an EU ventilator procurement program now in place which the UK opted out of.

Heath is a national competence. EU plays a secondary role to national Govts as they decide health policy not the EU so yes each country is on its own to an extent because that’s the way the EU countries wanted it

The thread is about the economic impact of Covid-19. It will be interesting to see if there is a transfer of money from stronger Eurozone economies to the ones who will be on their collectives arses after the pandemic is over. My feeling is there won’t be anything significant but let’s see.

 

[denislawsbackheel]

Stronger Eurozone economies?
After this there won’t be any.

 

[Ardwick Green Blue]

Stronger Eurozone economies?
After this there won’t be any.

Germany and most Northern European Eurozone countries will get through it but Italy, Spain and many others will be decimated.

 

[AlgarveBlu]

Economic squeeze likely to be worse than 2008 – WTO
The economic downturn and job losses caused by the pandemic is likely to be worse than the 2008 recession, according to World Trade Organization projections. Its director general, Roberto Azevedo, has said:

Recent projections predict an economic downturn and job losses that are worse than the global financial crisis a dozen years ago.

He added that concrete forecasts are not yet available but its in-house economists expect “a very sharp decline in trade”.

 

[Coatigan]

hard to imagine just how bad it will be till we have any idea of how long and how bad this pandemic will get.

incidentally, this is the 24th thread on Covid-19 on this forum.

 

[Ardwick Green Blue]

incidentally, this is the 24th thread on Covid-19 on this forum.

Point of order. There may be 24 threads about aspects of Covid-19 but mine isn't the latest one :)