EU forecasts recession of ’historic proportions’ this year with 7.5% contraction

EU forecasts recession of ’historic proportions’ this year with 7.5% contraction

The Commission warned an uneven economic recovery across members poses an existential threat to the single market and Eurozone. EU members already in economic triage prior to coronavirus have greater challenges ahead as the Economy Commissioner Paolo Gentiloni urged the bloc to rise to the challenge and make ’decisive, joint European action.’ Greece and Italy are expected to lose 10% GDP in 2020.

Timothy
Timothy
Stephen
Stephen 2 weeks

Weird. When you force people to not work, your economy collapses. Who could have predicted this. Surely not our Supreme overloads, that's for sure.

IIzard
IIzard 2 weeks

"the lockdown is good"

porcus
porcus 2 weeks

The EU made sure to get their dig in at the UK for Brexiting, pointing out that the UK is expected to hit +6% GDP growth by next year, while the EU is expecting to hit +6.1%. But a minimum -5% GDP collapse is bad, and some of the member states may have it worse (Italy, Greece).

GUYIVKS
GUYIVKS 2 weeks

Hopefully this will sink the idea of a universal wage.

Leo Miggel
Leo Miggel 2 weeks

As if they cared about the struggling members of the EU. Nobody stud up for Greece when the Union tried to force them to pay a debt the same EU pretty much imposed on them with their uneven economic and geopolitical laws.

Frederic Lück
Frederic Lück 2 weeks

In 2017 70k people dies of the flu

tsylana
tsylana 2 weeks

This pandemic has brought EU bonds (Eurobonds) idea even closer to reality. Be interesting to see if it is enacted.

Howdy
Howdy 2 weeks

Oh i fucking wonder why that might be

الأكبر فادي
الأكبر فادي 2 weeks

EU is a joke as much as the UN

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