Post by account_disabled on Feb 22, 2024 1:19:33 GMT -5
The recession was served on a plate and there is nothing that affects the markets more than fear. In Spain, the first consequences were the rise in unemployment, the paralysis of economic activity due to confinement and the collapse of the stock market , a cocktail that made a word that seemed kept in a drawer proliferate: ERTE. Temporary employment adjustments in March were the first major consequence of the pandemic , the result of a work culture not based on teleworking, a fabric dominated by SMEs and an economy characterized by its lack of liquidity . But the meteorite of the crisis, although widespread in the Spanish economy, hit some sectors harder than others.
The first to notice it was tourism and, almost at the same time, transportation. For months, there was a situation of standstill with few or no foreign visitors, vetoes, and the consequent paralysis of Lithuania Mobile Number List one of the most structural economic sectors in the country . As collateral damage and added to the fear of leaving home, the impact mainly affected the airlines, currently on the brink of the precipice, with giants like Air Europa asking for oxygen and demanding ransoms from the Government . The most optimistic do not predict recovery before 2024. Elon Musk, CEO de Tesla y Space X. Elon Musk, CEO de Tesla y Space X.Reuters Of course, winners always emerge from crises. Few, yes.
Some privileged owners of large technology companies have seen in the coronavirus the opportunity to climb even further in the ranking of billionaires , with the cases of Jeff Bezos (Amazon), Elon Musk (Tesla) and Mark Zuckerberg (Facebook) leading the way . Newcomers like Zoom , which came out of nowhere to become one of the international references for video calls , were a lifesaver in the field of teleworking or daily contact with family and friends. Other billionaires were not as lucky as the previous ones. Amancio Ortega, owner of Inditex, lost, for example, more than 21 billion euros in just two months . For ordinary mortals, the situation is more similar to the latter, with the extension of the ERTE and the reduction of salaries , rumors of a salary freeze on the horizon for civil servants, small companies besieged by the lack of activity and banks such as CaixaBank and Bankia forced to understand each other and negotiate a merger to avoid bankruptcy.