Economics
Europe’s Second Lockdown Wave Risks Double-Dip Recessions
Governments are trying to limit the pain to a few industries, but the costs may still be high.
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It’s 5:45 p.m., and a small square close to Rome’s Spanish Steps is full of the sounds of alfresco diners and children playing. Twenty minutes later, all that can be heard is the scraping of metal chairs on cobblestones as waiters close up for the night, the piazza darkening as they turn off the lights.
To curb the resurgent coronavirus, Italy has locked down a few at-risk regions including Milan, while mandating milder rules for Rome and the rest of the country, including early closing hours for bars and restaurants. It’s not a lockdown—yet—but for Romans it might as well be. It “feels like 2 a.m., not 6 p.m.,” complains Angela Dimauro, pulling her jacket closed and her mask higher as she leaves the square.