Europe to endure economic shock akin to Great Depression due to coronavirus, finance chiefs say - ABC News

  • 📰 abcnews
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 83%

United States News News

United States United States Latest News,United States United States Headlines

Coronavirus has delivered some scary numbers for Europe, and more are ahead — the financial cost

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."

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Project EU is finished

Any news on the meat works out break or nah cause it might hurt your ideology.

United States United States Latest News, United States United States Headlines