Economics
Europe Extends Key Crisis Aid to Avoid Economic Calamity
- Governments across the region are keeping support in place
- Surge in job losses remains big risk in the slow recovery
This article is for subscribers only.
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.
Across the continent, furlough programs that shielded close to 50 million jobs at the height of lockdowns, as well as tax deferrals and loan moratoriums, are being extended even as restrictions on movement are lifted. That’s because the sustainability of the economic bounce back is uncertain, with many businesses still closed or serving fewer customers than before.