Economics
Europe Is Approaching a Disastrous Economic Cliff Edge
- Some job protections due to roll off amid unsteady recovery
- Portugal’s layoff program changes in just over a month
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In northern Portugal, Tiago Carvalho is nervously counting the days until his business has to stand on its own two feet again.
The restaurant owner in Braga, home to the country’s oldest cathedral, says revenue is less than a third of what it was before the coronavirus kept tourists away and confined locals to their homes. Even with lockdown restrictions largely rolled back, customers have stayed away, reflecting the slow pace of recovery across Europe.