Covid-19’s uneven impact on Europe The effects of Covid-19 will shrink all European Union economies, with the impact most acute in tourism-dependent southern nations EXPECTED GDP DECLINE, 2020 -5 to -7% -7 to -9% -9 to -10% -10 to -12% Belgium Luxembourg Portugal Ireland Spain Netherlands France Slovenia Denmark Germany Malta Austria Croatia Italy Sweden Czech Republic Poland Greece Hungary Slovakia Finland Romania Estonia Latvia Lithuania Bulgaria Cyprus Source: Stratfor Picture: Associated Press © GRAPHIC NEWS