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Published on Wednesday, March 18, 2020

A Profound Crisis That Doesn't Have to Linger

In recent years, there have been warnings about the outbreak of a new international crisis. But the cause of the global crisis is the unknown risk that nobody expected: the COVID-19 pandemic.

Key points

  • Key points:
  • Some estimates indicate that the disease could spread to two thirds of the world's population, with a high mortality rate for those most at risk.
  • We are not experiencing a slowdown in growth, but a severe contraction in activity — albeit temporary.
  • The knock-on effect of the Coronavirus outbreak has now reached Europe, with Italy being hardest-hit followed by Spain.

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