The economic impact of new waves will be lessened considerably as the economy has to an increasing extent adapted. Now government support has ended, the right market dynamics have been restored. Although there will undoubtedly be businesses that still run into difficulties, I don’t expect this to lead to a large wave of bankruptcies.
Contrary to the American system, these countries provide relatively large social assistance of the last resort. Income transfers are primarily oriented to people in working age and active measures to help the unemployed to get jobs are important. Schemes that link access to benefits to regular employment are used. In the Nordic Model unemployment benefits are generous and comprehensive.