The coronavirus (COVID-19) outbreak is causing major economic disruption with more severe impacts expected than what had to be dealt with after the global financial crisis in 2007–08, as it hits households, businesses, financial institutions and markets at the same time. Countries with a high degree of openness, less fiscal capacities and a strong dependency on heavily affected sectors, e.g. tourism, might suffer the most.
The economic drawbacks caused by the virus will impact many parts of the world. Imminent insolvency of stakeholders along entire supply chains cannot be excluded. This situation is cause for anxiety, uncertainty and turmoil across all sectors.