Freitag, 29.03.2024 11:36 Uhr

A second wave of the COVID-19 pandemic

Verantwortlicher Autor: Carlo Marino Rome, 01.12.2020, 09:07 Uhr
Nachricht/Bericht: +++ Wirtschaft und Finanzen +++ Bericht 6498x gelesen

Rome [ENA] A "second wave" of the COVID-19 pandemic with all its effects is hitting Europe. The map of the European Centre for Disease Prevention and Control (ECDC) reveals that almost the whole of Europe is in the red zone i.e. where there are 50 new infections per 100,000 inhabitants in the past 14 days and more than four percent positive test results, or where the level of new infections exceeds 150

per 100,000 inhabitants in the past 14 days. The governments of most countries have again taken restrictive measures to stop the spread of coronavirus and protect human lives. Italy too is still in the grip of pandemic with some 16,377 new COVID cases which have been registered in the last 24 hours, and 672 deaths, according to the Health Ministry. The consequences of the pandemic for the European and global economy can not be forecasted. People are fearing for their jobs because many companies are endangered financially. The existence of non-profit institutions and provision of social services is also threatened, which means that the infrastructure could no longer be available in sufficient numbers even

after the pandemic. Italian Parliament approved a resolution by the ruling majority to authorize a deviation from the previous budget target in order to finance measures to tackle the effects of the COVID-19 pandemic. In Italy, tax revenues are high, but tax compliance is low. According to the latest report of the Italian Ministry of Economy and Finance (MEF), the difference between the amount of tax and social contribution that, in theory, is due and what is actually paid is €109 billion per year, on average, during the period 2012-2016, i.e., 6.4% of GDP.

The restrictive measures needed by the evolution of the epidemic curve also forced many retailers, many economic categories to precipitously change their plans, their expectations and hence the italian government chose to grant faster provisions, so called “ristori” and also decided to strengthen these measures compared to the past. But the problem is the low tax compliance of many shopkeepers which makes it difficult to clearly determine the economic loss compared to the previous year. Member States try to prevent unemployment through instruments such as short-time work benefits. However, some "atypical" employees, above all self-employed persons often do not benefit from short-time work benefits. First-time job-seekers

First-time job-seekers cannot find employment and those who manage to find work are the first to lose their jobs because of the often low protection against sacking. The International Labour Organization (ILO) warns of a "lockdown generation". There’s the concern that youth unemployment could be even more serious as a result of the coronavirus crisis than it was after the financial crisis of 2008.

At the end of October 2020, the European Council adopted a Recommendation on the extension of the Youth Guarantee to stimulate the employment of young people throughout the EU, particularly during the COVID-19 pandemic. People with disabilities are significantly affected by the COVID-19 pandemic. Social isolation, difficult access to social services and care, a lack of accessible information and a higher risk of developing more severe cases of COVID-19 show the great impact of the pandemic on people with disabilities.

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