Eurozone’s two biggest economies, the Germany and France economy are on the cusp of historic recessions. It has swept away all of Europe’s growth in just a few months. Certain studies conducted by Germany’s researchers have stated that the country’s economy will shrink by 10% in the coming months.
Not far being, the government body of France is equally worried about its dropping economics. The shutdown of vast swaths of economic activities due to the pandemic outbreak is knocking 1.5% of the country’s economic growth. A Paris based organization said its index designed to identify the turning point in the economy had recorded the biggest drop earlier in the month of March itself. The authorities of both countries have stated that this fall is going to be the sharpest decline the continent has faced since World War II.