The “second wave,” if prolonged, could cause bad loans to almost triple, to €1.4 trillion, says the ECB.
Tesla’s share of the EV market plunged to 8.7% year-to-date, from 18.4% last year. Competition is now huge and across the spectrum. Tesla faces the same situation globally.
45 million people have been furloughed in Germany, the UK, France, Italy, and Spain, but the “unemployment” rate barely budged. Creating government-subsidized zombie companies & zombie jobs?
Europe may be about to find out. 128 days with my Mother-in-Law.
Airlines, automakers at the forefront. And it has only just begun. EU waives rules banning state aid. Ryanair, which doesn’t need a bailout, is furious.
First the Global Financial Crisis, then the Euro Debt Crisis, now the Big One.
It will likely take “several years before the output lost due to the virus outbreak is fully regained.”
They haven’t gotten over Financial Crisis 1 and the Euro Debt Crisis. Now there’s a new crisis. Deutsche Bank’s CEO going on TV to soothe nerves didn’t help matters.
Miserable, crowded living conditions of Europe’s foreign farm workers put them at much greater risk. And they’re staying away.
And construction companies “aren’t expecting a swift recovery.”