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One of the most highly debated issues around a partial or total peace agreement and the process of Ukraine’s reconstruction is what will happen to the European energy scenario. Will Europe once again be a major customer of Russian energy?

Analysing European consumers’ saving patterns at this time is key, since a revival of consumption will serve as one of the pillars that will support the economic recovery after the coronavirus.

This analysis examines the recent evolution of the European residential market and explores differences between countries in a context where housing has become the main concern among Europeans. What we see is a cycle marked by successive shocks and an insufficient supply, which is now emerging as the main source of tension.

European countries have announced a large number of fiscal measures to cushion the blow of the pandemic. In 2020 the fiscal impulse will be similar across the major countries but the differences lie in the automatic and discretionary components of fiscal policy in each state.

Intuition tells us that a shock like COVID-19 should increase country risk and this has certainly been confirmed by the data. Nevertheless, a longer-lasting impact on country risk should be observed, which is not the case.

Temporary employment adjustment schemes, including the ERTE in Spain, are being widely used throughout Europe to cushion the impact of COVID-19 on the labour market.