MICHEL PIREU: Covid-19’s unique threat to economic growth
The world has lived through crises before by stimulating activity, but what then when there are lockdowns?
Before trying to figure out the potential consequences of the coronavirus pandemic on our economy and markets, there are two fundamental questions that need to be answered: what are we really facing, and how is it likely to end?
The quick answer to both questions — the only answer we can be sure of right now — is that no-one can possibly know. Not yet, anyway. But, while fully acknowledging that “the economic crystal ball has never seemed murkier”, Kate Andrews does as good a job as any in looking at potential answers in this week’s issue of The Spectator magazine. Here is a precis compiled from a few extracts: