Southern European states seem to be particularly vulnerable to the economic fallout of pandemic lockdowns
Europe is the region worst hit by the coronavirus pandemic so far with more than half of the global death toll coming from the continent.
While hospitals feel the strain, the fear of further spikes in cases is keeping much of the economy under lockdown at great cost. , with Italy suffering from a fall in GDP of 9.1 percent and Spain suffering from an 8 percent contraction. This is illustrated by the fact that 68 percent of jobs in Greece cannot be done from home while in Sweden the same measure lies at 56 percent.
The three sectors, which by and large require physical attendance for most jobs, constitute 24 percent of Spain’s GDP, while it was about 23 percent for the Greek and 21 percent for the Italian economies.
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