Just expect a rather bumpy road for as long as the recession might last, which could be quite a few years. I think that's the most realistic expectation to have. It probably won't be on 2008/2009 levels since they should've learned from that, but I wouldn't be absolutely sure of that.
~snip~
As much as the pandemic has left its mark on the world economy, for me at the moment it is much more important that there is a raging war in the middle of Europe, and regardless of what some will say that it is between Ukraine and Russia, we all know that the stakes in this war are much higher. Although inflation has hit the whole world, Europe has undoubtedly lost cheap gas and oil from Russia, which means that it will suffer the most until it adapts.
So regardless of whether
"they" have learned something from past economic crises, this is about something that is much more complicated to solve, and as time goes on it will be even more difficult. In any case, I can agree that difficult years await us, but we must adapt or it will be even more difficult.