We are witnessing Europe relax restrictions, that were previously imposed due to the COVID-19 pandemic, although with caution and in phases. While the relaxation varies widely from country to country, European leaders are unanimous in their opinion that it is necessary to reopen their economies. As more and more countries started coming out of lockdown, the vast majority of businesses realized they have to orient towards gradual reopening and implementation of commercial strategies in order to define the “new normal” of their everyday business under COVID-19.
What will save the EU from an economic crisis?
Governments across Europe have stated, that the unprecedented support packages, backed by public funds, will be in force and constantly supplemented to help the business. For many enterprises quantifying the COVID-19 impacts will be delayed by a few months due to the accessibility of short-term government-backed financing, as well as due to other measures of available state help schemes against the economic shock, caused by COVID-19. Furthermore, as lockdown measures are relaxed, EU governments indicate that further restrictions to the schemes may slowly be put into place to encourage businesses to return to normal. There is no doubt that the state-backed aid schemes will continue to be broadly used in the upcoming months. Yet, as of now, it is totally unclear, how those measures might help the business to get back on its feet.