I’m sure by now all must have heard that Germany and France have imposed second lockdown, and this news shall crush small business owners morale, and even effect those people who rely on jobs cause it’s quiet possible that they may never be employed again.
Furthermore it’s pertinent to note that this lockdown has come during the holiday season, and if it continues to stay in place then Europe’s economy could be severely impacted, and therefore in my personal opinion it could take year’s before European economy completely recovers.
What is the worst case scenarios that come in your mind when you read this news?.
Source:
https://www.cnbc.com/2020/10/29/covid-lockdowns-in-france-and-germany-will-hit-europes-economy-again.htmlI have recently seen a pretty good graphic somewhere which actually touched upon this issue pretty nicely. This actually is like a double edged sword. There are two options that governments have:
Option 1: To let things the way they are let people suffer and maybe let 2-5% of them die and therefore safeguard the economy for once but after a year or so you would ponder upon the amount of population you have lost as it would easily be around 5% and the economy therefore would take a steep fall with such news.
Option 2: To impose lockdown and safeguard the people but hamper the economy badly as the whole circle of life stops. But this too would have larger repercussions as even if people remain inside once the economy has shattered many people with lose jobs and would then die due to stress/hunger/poverty etc.
So in both the cases, both people and economy are going to badly suffer so I think this is a matter which would have been deliberated upon by the governments before coming up with this course of action again.