FX.co ★ Coronavirus to take shine off Christmas splendor

The merriest season of the year is approaching. Every year, European cities from small to the largest ones immerse themselves in the festive atmosphere. They look like villages in the pictures of the fairy tale books: shining garlands, lush and bright fairs, holiday songs. Even pre-holiday chores give joy to everyone. However, this year, Christmas may be stolen not by the Grinch but by the only one and horrible coronavirus. Currently, the EU is facing the fourth wave of infection.

EU governments are raising the alarm bell especially because of the new coronavirus variant- Omicron. Virologists know almost nothing about this strain. This is why EU countries may impose new restrictive measures. For instance, Germany may ban Christmas fairs amid concerns over a new strain. Notably, last year, the state of affairs was the same. If the epidemiological situation worsens, the German authorities are ready to close the Christmas markets.

This will make things harder for small businesses. Entrepreneurs will again incur losses, especially those who sell souvenirs. In Germany and Austria, many festive events have been canceled due to a surge in coronavirus-related cases. Restaurants and hotels also faced losses as the flow of tourists decreased significantly.

Experts pay attention to the deterioration of short-term prospects for the eurozone economy. Small and medium-sized enterprises have suffered the most. However, the medium- and the long-term outlook remains bright. According to analysts, things will start looking up in February 2022.

Apparently, by this time, there will be more data on the Omicron strain. Maybe vaccine manufacturers will develop a new vaccine. It will significantly reduce the risks of its spread. As for now, one should only hope that Christmas magic does exist and the coronavirus spread will ease.