pdf-articles Ratings /ratings/en/research/pdf-articles/20200427_credit-conditions-europe-the-lowdown-on-lockdowns content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Credit Conditions Europe: The Lowdown on Lockdowns

Extended lockdowns, a slower pace of normalization, and key trading partners embroiled in the same predicament have all contributed to a very sharp downward revision to European economic growth for 2020. We expect a deeper two-quarter recession in the eurozone with full-year growth falling by 7.3%. Top risks remain the pandemic not being contained despite all efforts, a scarcity of financing for indebted corporate borrowers, the re-emergence of global trade tensions including between the EU and U.K., and asymmetric fiscal costs from the pandemic placing renewed pressure on the EU’s cohesion.