Watch out, world: New forecasts predict EU economic collapse

Footballers of the U-10 age group of SV Loschwitz train on the pitch at large intervals, on May 5, in Saxony's capital city of Dresden, Germany. In pictures: Coronavirus crisis around the world (Photos) New forecasts predict a 7.4 percent economic collapse and risks of even worse decline if the reopening triggers a second virus wave. To put this figure in perspective, the 27-nation bloc’s economy had been predicted to grow by 1.2 percent this year. In China, where the outbreak has subsided in recent weeks, the factories that power the global supply chain have been fired up. The crisis is also reigniting political divisions between a wealthier north and a poorer south, threatening to break the brittle balance between divergent nations with inextricably linkedeconomies. A resurgence of the virus after the end of lockdowns would shave a further 3 percentage points off economic performance this year, he said. The bloc’s biggest economy, Germany, will also be hammered, suffering its worst recession since the World War II, set to shrink by 6.5 percent, but it is expected to recover relatively quickly. The European Union and the United States are each other’s largest trading partners, exchanging goods and services worth .3 trillion last year. European companies like Daimler, BMW or Siemens employ more than four million people in the United States, according to U.S. government figures. As grim as the economic outlook appears, the greater danger to the world economy may be the risk that the euro common currency could be undermined by the deepening rifts between its members and their leaders. That almost happened in the early years of the last decade, but was averted when the European Central Bank, the euro’s Federal Reserve, used its monetary firepower toprevent Greece, Italy and Spain from becoming insolvent. The misuse of hydroxychloroquine can cause serious side effects and illness and even lead to death. It is also beneficial for your general health to maintain a balanced diet, stay well hydrated, exercise regularly and sleep well. The virus that cause COVID-19 spreads primarily through droplets generated when an infected person coughs, sneezes or speaks. COVID-19 is spread through respiratory droplets when an infected person coughs, sneezes or speaks. To protect yourself, make sure you clean your hands frequently and thoroughly and avoid touching your eyes, mouth, and nose. If you have cough, fever, and difficulty breathing, seek medical care early – but call your health facility by telephone first. Frequent or excessive alcohol consumption can increase your risk of health problems. These substances can be poisonous if ingested and cause irritation and damage to your skin and eyes. Methanol, ethanol, and bleach are sometimes used in cleaning products to kill the virus on surfaces – however you should never drink them. Make sure you clean your hands frequently and thoroughly and avoid touching your eyes, mouth and nose. The best way to protect yourself against COVID-19 is by maintaining physical distance of at least 1 metre from others and frequently cleaning your hands. By doing this you eliminate viruses that may be on your hands and avoid infection that could occur by then touching your eyes, mouth, and nose. Bydoing this you eliminate viruses that may be on your hands and avoid infection that could occur by then touching your eyes, mouth, and nose. Thermal scanners are effective in detecting people who have developed a fever (i.e. have a higher than normal body temperature) because of infection with the new coronavirus. There is no evidence that regularly rinsing the nose with saline has protected people from infection with the new coronavirus. There is some limited evidence that regularly rinsing nose with saline can help people recover more quickly from the common cold. However, there is no evidence from the current outbreak that eating garlic has protected people from the new coronavirus. “It is clearly more massive, and it is going down more steeply,” Clemens Fuest, the president of the Ifo Institute, one of Germany’s leading economic think tanks, said during an online presentation Wednesday. The economic dislocation caused by the 2008 financial crisis helped fuel far-right populist movements in Germany, Italy and France. Europe’s best hope is that economies will bounce back quickly, in what economists optimistically call a V-shaped recession, as lockdowns are eased. Already, factories have resumed production in much of Italy, and Germany this week allowed hairdressers to begin receiving customers again. The fresh set of figures will pile pressure on European leaders to conjure up a brave joint response to the recession to ensure the recovery isn’t lopsided, hurting the joint currency and spawning more political unrest in the weaker economies. The persistent divide “poses a threat to the single market and the euro area — yet it can be mitigated through decisive, joint European action,” Mr. Gentiloni said.