ZGBR - The Resilience Of Private Balance Sheets In Europe During COVID-19
- One of the positive surprises about last year's recession is how little damage it inflicted on average household and corporate balance sheets in Europe.
- European household balance sheets also improved in aggregate in 2020, despite higher unemployment and shorter working hours. People stayed home more and spent less, while policy measures supported their income.
- Preventing the COVID-19 crisis from severely damaging private balance sheets is key to laying the foundations for a successful recovery in Europe.
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The Resilience Of Private Balance Sheets In Europe During COVID-19