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Economy commissioner Paolo Gentiloni said he was confident EU leaders would approve a recovery initiative in June (Photo: European Commission)

EU set for record recession, putting euro at risk

The EU is heading for a historic economic recession on the back of the coronavirus pandemic, and a patchy rebound could put the single currency at risk.

The eurozone is projected to contract by 7.75 percent and the EU to be hit by 7.5 percent this year, according to a forecast published by the commission on Wednesday.

"It is now qui...

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Author Bio

Eszter Zalan is a Hungarian journalist who worked for Brussels-based news portal EUobserver specialising in European politics, focusing on populism and Brexit.

Economy commissioner Paolo Gentiloni said he was confident EU leaders would approve a recovery initiative in June (Photo: European Commission)

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Author Bio

Eszter Zalan is a Hungarian journalist who worked for Brussels-based news portal EUobserver specialising in European politics, focusing on populism and Brexit.

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