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European economy collapses as EU bails out the super-rich – WSWS
Eurostat economic figures for the second quarter of 2020 show that Europe saw its deepest and most sudden economic collapse in history.
By
Anthony Torres and Alex Lantier
3 August 2020
Eurostat economic figures for the second quarter of 2020 show that Europe saw its deepest and most sudden economic collapse in history.
Already before the COVID-19 pandemic, Europe was sinking into recession. In the fourth quarter of 2019, Germany was stagnant, while France (-0.1 percent) and Italy (-0.4 percent) were falling. The collapse in business confidence due to the pandemic and the effects of lock-down measures have now triggered an …
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