Bad news for southern Europe. It looks like coronavirus will further entrench the European Union’s long-standing disparities between north and south.According to the European Commission’s estimates, the economies of Italy, Spain, and Greece will all shrink over 9%. By comparison, the EU average is 7.4%. France will shrink 8.2%, while most Nordic/Germanic countries will shrink less than 6.5% (that’s Germany, the Sweden, Denmark, Austria, Finland). EU unemployment expected to rise from 6.7% to to 9% this year. Unemployment will rise to 9.7% in Portugal, 10.1% in France, 11.8% in Italy, 18.9% in Spain, and 19.9% in Greece. Germany will have 4%.