Economics
Europe Confronts Reality That Many Companies Won’t Survive Virus
- Small businesses across the continent are facing collapse
- Virus restrictions are taking a heavy toll on the economy
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In central Germany, a couple in their mid-sixties running a travel agency is seeing retirement drift at least a decade into the future. In a small town in southern Italy, a well-known restaurant is closing for good. And on France’s northwestern coast, a bistro owner is concerned the majority of restaurants around him will simply disappear.
The economic damage wrought by the coronavirus is clear in countless stories across Europe, from business owners furiously fighting to keep their firms afloat to those who see no hope. In France, where more than half of small firms fear bankruptcy, the crisis led to a public showdown on live television between entrepreneurs and the country’s finance minister.