Europe gears up for more economic pain as Germany and France impose national lockdowns

Europe gears up for more economic pain as Germany and France impose national lockdowns

A woman wearing a protective face mask sits in front of the empty courtyard of the Louvre museum and the pyramid of Louvre as the novel coronavirus Covid-19 pandemic keeps the tourists awayChesnot | Getty Images News | Getty ImagesLONDON — There's further economic pain ahead for European countries as France and Germany announce new nationwide lockdowns and other governments consider doing the same. The latest measures to address the second wave of Covid-19 infections in Europe could lead to higher unemployment, the permanent closure of many businesses and even more national debt. "Scarring will occur with each iteration," analysts at High Frequency Economics said in note on Wednesday about the new lockdowns."Businesses and households will fail, increasing the number of jobs that will never come back at any interest rate and