Swine Flu Can Slow Economy
The swine flue (H1N1) could cause European production to plummet by 1.5 - 2.5%, EU commission advisor Professor Lars Jonung told Swedish Radio News on Monday.
Jonung calculates the decline based on the worst case scenario, in which 30% of the European population will become sick.
While people staying home from work will affect production most, psychological factors will also play a role, he says.
"When a population discovers that many people are sick, people stay at home too. They don't go to the movies, they don't go to the theater, they shop less, and they hardly go on any long charter trips," professor Lars Jonung said.
Yet he predicts that Europe will come out best in the pandemic compared to the rest of the world because of its well-developed welfare state and health care system.