As ever, the EU is muddling through. The post-pandemic recovery response has been robust, but we think there will be more. The gradual re-opening of the…
With the easing of the lockdown measures, growth is picking up in the eurozone albeit very gradually. Additional fiscal stimulus is being put in place but…
Thanks to the government’s U-turn on fiscal policy, Germany should be one of the first and strongest countries to emerge from the crisis
We think the Dutch economy will shrink by -6% to -8% in 2020 despite a sizeable public support package. As lockdowns ease, economic activity is resuming…
Spain has been one of the worst-hit countries by Covid-19, both in terms of health and the economic perspective. The severe lockdown measures have had a…
Now that French economic restrictions are easing, President Macron is looking for a second wind to take him to the next Presidential elections which are…
Unfavourable lockdown accounting has been calling for compensating temporary measures so far. Looming use of EU facilities should help mark a change in…
A mildly negative 1Q20 reflects smaller contagion but 2Q20 will look much worse and the strength of the 3Q rebound will crucially hinge on international…
Portugal reacted swiftly after the first Covid-19 infection was detected around mid-March. But the subsequent lockdown has had a huge impact, even if they…
Like most economies, Belgium is experiencing an unprecedented health and economic shock. Despite the accurate assessment of the losses incurred during the…
While GDP increased by 1.2% in the first quarter, it is set to plunge in the second quarter as the Irish domestic economy struggles with Covid-19 like…
Even though Austria has managed to come out of the lockdown faster than most other eurozone countries, the upcoming vacation period will be key for the…
The Finnish economy shrank by -0.9% in 1Q, but will be harder hit in the second quarter. Still, the impact will likely be smaller than in most of the…
No white smoke so far on the EU Recovery Fund, but that was not to be expected today. Some encouraging signs point to the fact that the fund will be going…
While the ECB is not allowed to monetise debt formally in the wake of the Covid-19 crisis, there seems to be some scope to do so, without fear of…
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