Small Italian car filter supplier Ecofiltri took out a state-backed loan last year, just like thousands of other businesses fighting to keep afloat during the pandemic. But instead of burning through the cash to pay overdue rent and bills, Ecofiltri is investing the money on a technological revamp of its business. Already facing a longer-term switch to electric transport, … [Read more...] about Italy’s Economy is Scrambling to Catch Up Due to the Pandemic
Economy
Greece Opens Economy for Tourists
Greece is laying out the sunbeds and beach umbrellas as it prepares to reopen to tourists in May and resurrect an industry that suffered one of its worst years in decades because of the coronavirus pandemic. “All you need is Greece,” Tourism Minister Harry Theoharis said this week in an address from the Acropolis Museum, home to sculptures from Greek antiquity. The … [Read more...] about Greece Opens Economy for Tourists
France Economy Could Outperform its European Neighbors
As with other European countries, the second wave of the coronavirus has had and continues to have a significant impact on the French economy. The new strict lockdown implemented in November with the closure of shops and drastic restrictions on mobility and the severe restrictions imposed in December led to a 1.3% drop in GDP in the fourth quarter of 2020, pushing the … [Read more...] about France Economy Could Outperform its European Neighbors
Germany’s Second Lockdown Did Not Sink Economy
Germany’s extended shutdown to curb the coronavirus's spread will weigh on Europe’s largest economy but not choke it off, with economic institute Ifo forecasting quarterly growth of 3% in the second quarter. Chancellor Angela Merkel and the country’s 16 states agreed on Tuesday to extend a shutdown until mid-February as Germany, once seen as a role model for fighting the … [Read more...] about Germany’s Second Lockdown Did Not Sink Economy
Pound Sterling Put Another Test with Bulls Pulling Back and Prices Turning Around
The British Pound backed down this week after riveting uptrends helped drive the currency to fresh two-year highs against both the US Dollar and the Japanese Yen. Against the Euro, the trend was clear coming into March but has since stalled with a key Fibonacci level coming into play. In the US Dollar, the pair remains in what’s been a very strong up-trend since October of … [Read more...] about Pound Sterling Put Another Test with Bulls Pulling Back and Prices Turning Around