Europe's Facing a Fourth Wave of Covid. What This Means for Its Economy.

Sumary of Europe's Facing a Fourth Wave of Covid. What This Means for Its Economy.:

  • Closed Christmas market stalls at Maria-Theresia square in Vienna, Austria.
  • That explains why economists don’t expect the impact to be as devastating as in the first months of the Covid-19 pandemic.
  • But as noted by Deutsche Bank analyst Jim Reid, “a number of less-affected countries are still seeing cases move in an upward direction, including France, Italy, and the U.K.” So the type of measures even these governments might have to take will be “key ones to watch and will have big implications for economies and markets too,” Reid writes.
  • ING economists Franziska Biehl and Carsten Brzeski note that “the past couple of years have shown that the feeling of being ‘safe or secure’ can be misleading and can be quickly overtaken by events,” and that further restrictions would “increase the risk of economic stagnation as we enter a new year.
  • “Fear of the virus is substantially less than last year, but restrictions do hamper economic efficiency—as does the spaghetti bowl of tangled regulation involved in international travel,” wrote UBS chief economist Paul Donovan.

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