EU heading for 5-10% economic contraction in 2020: Thierry Breton
In an interview with France 2 television channel he also said he was optimistic about European leaders eventually working out the details of the trillion emergency fund they agreed upon Thursday.
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"As of today, in the European Union, we're on course for a 5% to 10% (recession), meaning it's about 7.5%. But that is today, and if things don't improve and if we have a second peak (of the outbreak), things could get worse", Breton said.
"Everything hinges on the speed of the economic recovery. We're still in the midst of the pandemic and we're going to learn to live with it for several months."
Read more:https://m.economictimes.com/news/in...0-thierry-breton/amp_articleshow/75347245.cms
In an interview with France 2 television channel he also said he was optimistic about European leaders eventually working out the details of the trillion emergency fund they agreed upon Thursday.
ADVERTISEMENT
"As of today, in the European Union, we're on course for a 5% to 10% (recession), meaning it's about 7.5%. But that is today, and if things don't improve and if we have a second peak (of the outbreak), things could get worse", Breton said.
"Everything hinges on the speed of the economic recovery. We're still in the midst of the pandemic and we're going to learn to live with it for several months."
Read more:https://m.economictimes.com/news/in...0-thierry-breton/amp_articleshow/75347245.cms
