Mega GDP Hit Means Help Euro Area’s South or Risk Crisis

(Bloomberg) -- Bloomberg Economics’ best-case scenario for the euro area this year is an 8% reduction in gross domestic product. A worse outcome would be a second wave of infections leading to tighter restrictions and a hit of about 10%. There’s also the increasingly worrying situation where governments fail to act strongly enough in a timely manner, leaving the economy badly scarred for longer, and that threatens to turn a public health crisis into a sovereign debt crisis.

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