Europe's Economy Faces Deep Scars Amid `Violent' Second Wave

The video discusses the recent lockdown measures in Italy and Greece and their impact on the European economy. It highlights concerns about a potential double dip recession due to extended lockdowns and the lack of a V-shaped recovery. The European Commission's projections indicate a larger contraction than expected, and there is uncertainty about the pandemic's duration. However, there is hope that actions by the European Central Bank and the operational recovery fund in 2021 could aid recovery, though national governments must continue spending despite financial constraints.

What is the potential impact of the lockdowns being extended according to the text?

What actions do officials hope will help the European economy recover?