A new economic forecast released by the European Commission on Monday (4 May) predicts EU growth will contract by 4 percent this year, a considerable downward revision from its January forecast of minus 2 percent growth.
Average unemployment is set to rise to 9.4 percent this year, while government deficits inside the 27-member union will average 6 percent of GDP, twice the figure allowed for euro area countries and used as a marker for the rest of the union.
Despite this, e...
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