On paper the European economy is snapping back smartly from the pandemic, growing more in the third quarter than it ever had. But images from Paris, Madrid and Frankfurt tell a different story. Cafes are rolling up their awnings, theaters are canceling performances, and it’s starting to look like March again on city streets. The risk of another severe downturn in Europe is rising as new lockdowns take effect in countries like Germany , France and Belgium, where the authorities are desperate to prevent a surge in coronavirus infections from overwhelming hospitals. Instead of returning to a semblance of normalcy, governments in the European Union, America’s largest trading partner, are straining to find ways to support furloughed and unemployed workers , and to keep restaurants and other businesses from going bankrupt. This week, in an extraordinary move, the European Central […]