The collective European economy will contract by 7.7 per cent and inflation in the eurozone will almost disappear this year because of the COVID-19 pandemic, the European Commission forecast on Wednesday.Italy, Greece, Spain and Portugal will be among the hardest hit
Public debt and budget deficits are also expected to balloon because of economic hardship brought on by the health crisis. "Both the depth of the recession and the strength of recovery will be uneven, conditioned by the speed at which lockdowns can be lifted, the importance of services like tourism in each economy and by each country's financial resources."
Project EU is finished
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