The impact of the pandemic on our societies and economies has been unlike anything we have experienced in recent memory. Its human and social costs are continuing to mount, with almost 60 million cases confirmed globally and 1.4 million deaths officially registered.
In early October the IMF estimated that world GDP would fall by 4.4 per cent this year, a severe contraction that, in the case of Europe, nearly doubles in magnitude. These estimates do not incorporate the effects of the resurgence of the virus and of the measures put into place to address it.