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Economics commissioner Paolo Gentiloni said returning to EU budget deficit and debt rules should wait (Photo: European Commission)

EU forecasts deeper recession, amid recovery funds row

The EU Commission on Tuesday (7 July) drew a grimmer picture of the European economy damaged by the coronavirus pandemic than before, as the reopening of the continent's economy has been slower than expected.

The eurozone economy will drop deeper into recession this year, and rebound less quickly next year, than the commission originally estimated in May.

France, Italy and Spain will contract more than 10 percent this year, the commission said in its summer

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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.

Economics commissioner Paolo Gentiloni said returning to EU budget deficit and debt rules should wait (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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