During the height of the COVID-19 outbreak in Sweden, the country did not adhere to standard lockdown measures and rather kept businesses open to mitigate economic fallout. However, Sweden’s economy still suffered alongside its European counterparts. Sweden saw its economy shrink 8.6% in the April-to June period from the previous

Germany has suffered from a record-breaking economic contraction in the second quarter of 2020 due to lockdown measures taken to prevent the spread of COVID-19. However, Germany is expected to recover faster than other major European economies despite the contraction. Germany’s GDP fell 10.1% when compared with the previous quarter,

A four-day long EU summit ended with an unprecedented $1.2 trillion budget decision to adequately address the risks posed by the COVID-19 pandemic within the EU. The recovery fund was established early on Tuesday at the end of one of the longest EU summits in history. The 27 leaders managed

On Tuesday, the European Union announced that it will reopen its borders to travelers from 14 select countries, however, this list does not include the US. This is due to soaring coronavirus infections in many US states, such as Texas and Florida. Travelers from other big countries like Russia, Brazil,

On Wednesday, EU ambassadors met to determine the plan for reopening external borders on July 1, and US travelers could be amongst those blocked from entering. European countries are seeking a balance between saving part of the tourist season and being wary of the continued spread of COVID-19. The bloc

The EU’s Executive Commission has proposed a major $825 billion recovery fund to tackle economic issues caused by COVID-19 lockdowns. The package will be made of up grants and loans for all EU member states. Economies across the EU have been devastated by the COVID-19 pandemic, and Commission President Ursula

In Mexico, the government has moved to seize more control of the electricity market, resulting in consequences for dozens of renewable energy projects worth more than $6 billion amid a significant economic crisis due to the COVID-19 pandemic. Energy companies stated on Friday that Mexico’s new rules for the operation

Today, 194 member states of the World Health Organization will meet virtually, aiming to open an independent review of the response to the COVID-19 pandemic. The WHO will face questions on how it dealt with the outbreak and spread of the virus and Chinese President Xi Jinping talked during the

In an attempt to soothe the economic impact of the ongoing pandemic, the European Central Bank (ECB) has started an emergency $820 billion package that will buy government and company dept across the EU, particularly in Greece and Italy. ECB’s CEO Christine Lagarde stated that they are incredibly committed to