23000 bankruptcies in Belgium alone by 2021
We are on the brink of a massacre. And I am not talking about the second wave of Covid-19 victims. I am talking about the economic fall-out that the current measures against the pandemic is going to cause. Before the pandemic 94 % of the enterprises in Belgium had a healthy base, right now that is only 65 %. That difference is immense, and will cause a flood of bankruptcies and consequently hundreds of thousand of job losses. And this is only in Belgium where the government has done a lot to save the enterprises, with financial support during the lockdown. And extra financial support for workers that where temporarily unemployed due to the Covid-19 measures.
What will this be in other countries? Where the financial support by the government was way less? A massacre, nothing less can be used for that. It will completely change the economic climate in Europe. Small enterprises will be decimated and the big ones will be spared, and will profit from it.
The financial crisis of 2008 will look like a walk in the park when all this will evolve...
Sad, but inevitable!