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From April, the Eurozone economy may falter

From April, the Eurozone economy may falter

The rapid recovery of the Eurozone economy depends on the state of the pandemic, but the outlook is not very encouraging yet. The European Commission is consulting with hundreds of manufacturers to increase vaccine production.

The eurozone has every chance to recover, although GDP will contract by 0.4 percent in the first quarter compared to the previous three months, but it is expected to expand on a quarterly basis in Munich in the second quarter and by 2.2 percent in the third quarter: Analysts at Ifo, KOF Zurich and Istat Rome. However, one condition must be met – slowing down the coronavirus epidemic. According to a statement also sent to VG, there is also a consensus among them on this

The inflation rate will rise to 1.1 percent in the first three months of the year, 1.8 percent in the second and 2.1 percent in the third, compared to the same period last year.

After a weak start to this year, household investment and spending may also start to increase between April and June, while manufacturing is already on an upward trend across the Eurozone.

However, in terms of meeting the basic condition, the situation is still very uncertain, the vaccination campaign is still slower than expected and the epidemic is not weakening, on the contrary.

In France, hospital indicators are nearing the height of the autumn wave, so professionals are pressing for more restrictions. However, the government is waiting for the time being, although “all possibilities are possible,” stressed Finance Minister Bruno Le Maire in an interview with Radio France Info on Monday. He acknowledged that the epidemiological situation is deteriorating, and promised to do everything in his power to protect people, but said that the country should avoid further austerity for as long as possible.

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He ruled out making changes to the list of approved stores and services so that stores that sell foodstuffs, books, flowers and chocolate, in addition to hairdressers, remain open even in 19 of the most dangerous areas in the country.

Photo: Shutterstock

President Emmanuel Macron also does not want a complete national lockdown, and is now third, but he acknowledges that some tightening will likely be needed.

In the coming days, we will study the effects of the restrictive measures taken so far and, if necessary, introduce new provisions

He told Le Journal du dimanche. As usual, the Health Protection Board meets before the cabinet meeting on Wednesday to discuss further potential restrictions. They are also trying to speed up the vaccination campaign, as Macron hopes to catch up with the British in this field “in a few weeks”. Three million shares are expected to arrive in the country this week, which they want to use immediately.

By Monday, 7.75 million (11.5 percent) had received the first dose, and 2.65 million (4 percent) had received both.

To ensure there is an adequate vaccine, the European Commission will consult with more than 300 companies on Monday and Wednesday to boost production and remove barriers in the supply chain.

Vaccination is best done in Europe in the United Kingdom, where nearly 60 per cent of the adult population has already received the vaccine. As a result, travel restrictions imposed in England were lifted nearly three months ago as planned on Monday. Outdoor sports facilities have opened, among others, but restaurants, non-essential shops, gyms, and recreational facilities remain closed.

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However, in the most stringent border crossing conditions in Slovenia from Monday, a PCR test no more than 48 hours old must be submitted for entry, which must be taken in one of the European Union or Schengen countries. The test can also be taken with a certificate of vaccination issued in these countries or a previous infection certificate, while member states of the former Yugoslavia have been included in the red list.

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