Dr. John R. Deni and Jake Shatzer, Oct 2020 in War on the Rocks
The novel coronavirus pandemic has unleashed an immense shock to the global economy. In Europe, the gross domestic product among the countries that use the euro has dropped by over 12 percent while unemployment rates have risen to nearly 8 percent. Many countries are unlikely to reach pre-pandemic levels of gross domestic product until 2022 or later.