As the ECDC predicts a rising COVID-19 curve, Europe economies stand poised to suffer double-dip recession.
According to Moody’s, most European sovereigns, including Greece, can weather a prolonged tourism slump.
Research recently conducted by the Heritage Foundation in the US shows the current state of economic freedom around the world. Where CIS countries are concerned, the study made several somewhat surprising findings. One such finding was the 38th position among 177 countries Armenia currently holds. This places the small republic at the top of all CIS countries.
The Eurozone is in deep trouble. The piling up of debt for member states now affects every country, every industry, all Europe is reeling at the ultimate realization economic chaos is no longer a distant danger. Italy’s Ecomomy Minister Giulio Tremonti said it all in an address on Thursday; “We move forward or we sink” – stressing the EU desperately needs a political solution to its money woes.
Portugal’s travel sector is in grave trouble, perhaps far more serious than previous reports have suggested. The industry that represents 11 percent of the country’s GDP has lost fully one third of its travel agents to insolvency. The economic times and pressure from online travel agents have made the situation there untenable. But a double sided government effort has not helped either.