Economic Consequences of Covid19

It’s not even a severe epidemic (yet) and hopefully won’t be, but one lesson to be learnt is already obvious.

No on, absolutely no one is really prepared for such an event. Neither in terms of crisis management, nor in terms of economic and financial consequences.
In Switzerland has a bit over 100 coronavirus cases and health-care resources are already running low and personnel is overstretched, and in term of economic costs, they are starting to eat into the substance: Orders from abroad are low, tourism is down, banks’ share tank, etc

But thankfully, Federal and Cantonal governments have decided to “remain seized of the matter” and continue to observe the situation closely 😂

SMI is down almost 3.8% at 11:25
Banks’ shares fall under CHF 10 for the first time