What kind of recovery for the euro zone in 2021?

Various forecasts predict strong growth in the euro zone in 2021 (European Commission, for example, predicts growth of 6.3% in 2021 after a 7.7% contraction in GDP in 2020). But is this scenario of a strong recovery believable? First, we should not forget that after the 2009 recession (-4.5%), growth was weak (2.1%) in 2010 in the euro zone; Second, let us keep in mind all the possible factors that could weaken growth: Consumer caution ("frugality"); Corporate bankruptcies; Corporate debt and its effects on investment; The decline in productivity due to new health standards; The transformation of the sectoral structure of the economy due to the resulting need to reallocate employment; The continued rise in unemployment after the summer of 2020; The increasing number of zombie firms.