It is impossible to say what will be the cost in activity, primarily in the 2nd quarter of 2020, the crisis of the coronavirus in France, but it will be considerable. We can estimate (we will never have the true figure) the GDP loss in China to 15 % in the 1st quarter of 2020, but the complete closure of the activities related only to the province of Hubei. Therefore, one may fear a loss of activity in France, from 25 to 40% or even more, with losses more severe even in the sectors most affected (we know that it is the air transport, tourism, catering, retail…
