If 2020 has been the year of great chaos, 2021 aims to be the year of great divergence.

That is the main concern and the recurring message that is being heard in Brussels (and in Berlin) these weeks.

The unprecedented recession - in magnitude and speed - generated by the Covid, the confinements and the stoppage in activity has had savage effects on the real economy.

The main ones were reflected in the data for the second quarter of the year, with echoes in the third and fourth.

But on the axis

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