Europe’s Crisis Aid, Spanish Jobs, German Standoff Ends: Eco Day

(Bloomberg) -- Happy Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help get you through to the weekend:

• European governments are fast learning that they’ll have to live with aid programs to save jobs and businesses longer than thought to keep the economy from falling off a cliff
• An average of 178,000 workers have been exiting Spain’s furlough program every week to return to their jobs, a sign that the economic recovery is slowly gathering pace
• German lawmakers ended a legal standoff over the European Central Bank’s bond buying, backing a monetary program seen as a key prop for the euro area’s battered economy
• The gulf between generations in the U.K. is yawning as the pandemic exposes inequalities and damages younger people’s work prospects
• The lukewarm response to the modest infrastructure boost Prime Minister Boris Johnson promised is piling pressure on Chancellor of the Exchequer Rishi Sunak as he prepares to unveil a stimulus package to cushion the blow of what could be the worst recession in three centuries
• A private gauge of China’s services sector activity jumped in June, adding to signs of increased growth momentum in the world’s second largest economy
• The abrupt departure of Ukraine’s central bank chief will reveal how committed President Volodymyr Zelenskiy really is to the promises of reform that got him elected. Many have already lost hope
• The past two weeks saw some improvement in Hong Kong’s economy, even as the number of new cases of Covid-19 rose, writes Chang Shu
• Nathan Tankus, 28, hasn’t yet finished his bachelor’s degree. He has, however, mastered enough knowledge of economics and finance to become a widely followed commentator on the Federal Reserve

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