Euro Area Economics Outlook 2020 Discussion
Euro Area Economics outlook Protected content
Lockdown measures to suppress the COVID-19 pandemic have led to a major recession. If a second
The pandemic wave takes place later this year (the double-hit scenario), GDP is projected to contract sharply by
11.5% in Protected content , and the unemployment rate will exceed 12% by end Protected content , despite widespread use of short time
Work schemes. If the virus remains contained after the end of lockdowns in spring Protected content single-hit
Scenario), GDP will fall by over 9% this year, the unemployment rate will reach double digits and average
Maastricht public debt will exceed 100% of GDP by the end of the projection horizon. Substantial monetary
And fiscal support will underpin the recovery once the lockdowns are lifted, but output and employment will
Still be much below pre-pandemic levels by end Protected content , especially in the double-hit scenario, heightening risks
Of persistent scarring effects, including larger divergence across the area.
Let’s discuss the topic, and share knowledge. Is important that all participants bring information and knowledge do discuss the subject. I will present shortly some data form OECD Protected content
Meeting point: Zoon ( The link will be sent a few minutes before start the meeting.
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