It all started back in late 2019. Some of the first cases of the Coronavirus were detected in the state of Wuhan in China. Some 4 months later, the entire world is almost under lockdown and it seems that, yet another financial crisis is around the corner. The IMF (International Monetary Fund) said it expects the GDP to contract by 3% for the world economy in 2020 .
During the global financial crisis in 2008 the GDP contracted by 0,1%, which means the Corona crisis will be a far worse recession if IMF’s predictions are correct.
A few days after the WHO declared the coronavirus a national emergency on January 30, some new cases of the virus were confirmed in countries outside of China like, Russia, Spain, UK, Germany and many other countries.
The virus was slowly spreading around the world. 1,5 month later the total of confirmed cases in Europe was hundreds of thousands.
Some countries had many more confirmed cases than others. Especially in Italy where the confirmed cases were around 53,578 on st March 21 . So, in nearly a month and a half, the number of confirmed cases in Europe increased dramatically and the biggest/strongest countries such as Italy, Spain, Germany and France had the highest confirmed cases in Europe.