Is the rebound of the Covid epidemic already threatening the economic recovery?

THE CHEKING PROCESS – Last week, European stock markets started to slow down, alerted by the latest epidemic data. How could the new sanitary measures envisaged affect growth?

The empty terrace of a Marseille restaurant, September 28.
The empty terrace of a Marseille restaurant, September 28. AFP / NICOLAS TUCAT

THE QUESTION. True to their reputation for being as fearful as a hare, swift as a snake and having an elephant’s memory, stock markets and traders reacted quickly. Noting that the new positive Covid-19 cases had exceeded the 40,000 per day mark in the euro zone, more than last April, the European stock markets lost nearly 5% last week (September 21 to 25), to Paris and Frankfurt. A simple upsurge, the magnitude of which would be a statistical optical effect (we are testing much more everywhere than in the spring), or a real second wave? One thing is certain, the virus is still circulating and “You have to learn to live with it”, according to the government’s new mantra. “It is not because health problems have resumed that we must abandon the idea of ​​economic recovery”, recognized this Monday Bruno Le Maire, the Minister of the Economy, Finance and Recovery, by presenting the draft Finance Law for 2021. It would even be a good

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